A generous round of interest rate cuts from the Reserve Bank of Australia (RBA) since September has saved 350,000 households from mortgage stress, the nation’s peak home building group says.
The Housing Industry Association says 584,354 Australian households with a standard variable home loan, were in mortgage stress in December compared with 934,502 in August before […]

Victorian builders are reporting that clients are pulling out of new home projects as the global credit squeeze bites, according to a new Masters Builders Association (MBA) survey.
Victoria’s peak building industry body has identified that more than half their clients - 52 per cent - have pulled out of projects in the last three months […]

The share of fixed-rate home loans in the mortgage market has dropped to a record low as financial markets price in another aggressive interest rate cut in early 2009.
Hefty break fees for switching from an average fixed to a standard variable home loan rose sharply this week to $19,000 as debt futures markets and economists […]

Prime Minister Kevin Rudd has pledged further assistance to protect the economy against the global recession as the jobless rate rose to its highest level in a year.
The rise in the unemployment rate to 4.4 per cent in November from 4.3 per cent the previous month is the beginning of what is expected to be […]

Steps to help avoid identity theft in the Christmas - New Year shopping season.
More than 12 million Australians say they have some concern about credit and/or debit card fraud, prompting calls for consumers to be extra vigilant during the Christmas and New Year shopping season.
8 out of 10 Australians say they are concerned about the […]