Refinancing to drive Aussie mortgage growth in '16
Sydney
REFINANCING will drive Australian mortgage growth in 2016 as borrowers gun for better deals after lenders raised interest rates for the first time in five years and the run-up in home values allows them to increase the size of their loans, a mortgage report by JPMorgan Chase & Co said.
The number of borrowers looking to refinance has increased to almost 35 per cent from 10 per cent in early 2015 as they seek better terms, the report in collaboration with research firm Digital Finance Analytics said on Wednesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Singapore’s private home prices up 1.4% in Q1, rents drop by 1.9%: URA
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Singapore office rents in central region fall 1.7 per cent in Q1 over Q4: URA
Homebuyers shun new real estate in Vancouver, hurting builders