first-time buyers

Low-deposit mortgage deals face challenges as interest rates rise

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A group of anxious firsttime homebuyers consults with a mortgage broker in an office, surrounded by paperwork and charts reflecting rising interest rates and shrinking lowdeposit mortgage options.

In the past few months, several major banks have withdrawn or reduced their offerings for mortgages requiring deposits of less than 10%. As of late September 2023, the number of low-deposit mortgage products available has dropped by nearly 30% compared to earlier in the year. This trend is particularly concerning for first-time buyers who often … Read more

Understanding the Rise in Average Age of First-Time Buyers

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A group of young adults discusses their homebuying options at a bustling real estate fair, surrounded by colorful banners and informational booths.

As home prices have surged, particularly in urban areas, many young adults find it increasingly difficult to save for a down payment; for more insights, check out the challenges of achieving affordable housing. Additionally, student loan debt has become a significant hurdle for many potential buyers. With the average student loan debt for graduates exceeding … Read more