Five ways to avoid paying extortionate lenders’ mortgage insurance
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Aussies in their droves are refinancing their mortgages or jumping into the property market for the first time. That means lenders’ mortgage insurers are raking in the cash.
This insurance hurts because it is ultra-expensive. Worse than that, although the borrower has to pay the premium, the insurance protects only the lender – it covers them if there is a shortfall if you default on the loan and the lender does not recoup enough from a forced sale of your property to cover what you owe.
Australia Construction Industry Report 2021: Key Trends and Opportunities by State and Territory to 2025 - ResearchAndMarkets.com
on May 27 2021 3:15 AM
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The Australian construction industry is expected to grow by 2.2% in real terms in 2021 - up from a decline of 2.1% in 2020.
The downturn in 2020 was due to the impact of the Coronavirus (COVID-19) pandemic on consumer and investor confidence, coupled with plummeting oil prices and a weak residential sector.
Although the construction industry was designated as an essential service and exempted from lockdown restrictions, construction work was affected due to limitations on labor availability at worksites, social distancing restrictions and supply chain disruptions. As a result, the total value of construction work completed declined by 2.1% year on year (YoY) in 2020, according to the Australian Bureau of Statistics (ABS). This is attributed to a fall in building construction activities (-4.2%),
3 ways the federal budget should have gone further: REIQ SHARE THIS ARTICLE
While it commended the federal government’s commitments for 2021, the Real Estate Institute of Queensland (REIQ) said that budgetary measures need to go further in order to have any meaningful impact on economic recovery.
The announcement of the latest federal budget revealed several moves from the government to support property, including assistance for single parents, first home buyers, new home builders, retirees and downsizers, renovators and beneficiaries of public housing.
The REIQ has welcomed these commitments as Queensland continues to rise as a high-performing property market, with prices rising at the fastest monthly rate in over 30 years and interstate migration adding unprecedented pressure on housing stock.
Mortgage Business
Home buying intentions jump sharply: CBA By Malavika Santhebennur 19 May 2021
The major bank’s Household Spending Intentions series has revealed that home buying spending intentions spiked in April 2021 compared with 2020 and 2019.
After reaching a new series high in March, the Commonwealth Bank of Australia’s (CBA) latest HSI series report showed that home buying intentions surged in April 201 relative to both April 2020 and April 2019 to over 80 per cent.
The improvement was driven by both higher home loan applications and Google searches in April 2021 as the national real estate market attracted prospective buyers, the major bank said.
CBA also said that it expects the home buying market to be a key source of support for the Australian economy in 2021, driven largely by the very low level of interest r