RTE's finance correspondent Simon Coveney has the latest on the latest forecasts and predictions for mortgage rates across the globe.RTE's mortgage rate forecasts are based on the most recent data available from the Bank of England, the Royal Bank of Scotland, and the European Central Bank.In a commentary, RTE Economics editor Richard Waugh says the Bank's forecast for house prices in Ireland has ...
A credit card company has come under fire for selling its own mortgage comparison calculator that can show you how much interest you’ll pay on a home if you buy it.
The mortgage comparison tool from the Mortgage Bureau was launched on Friday as a result of a review of the way consumers are paying for their mortgages.
It has been a hot topic of discussion for the past year and a half, with some saying it could hurt the industry and others calling it a positive development.
The tool was designed by mortgage broker Nexa Mortgage, and it compares the interest rates of both lenders and home buyers.
But now, the calculator appears to have been hacked.
A spokesperson for Nexa, who declined to be named, said the calculator was a joke, and that they had been reviewing their product since November, but that they were forced to make a change after a user posted about the leak.
The problem is that the calculator is just a joke – the data is not accurate.
We have not yet seen a leak of the data and therefore we are unable to confirm the information.
The spokesperson said that Nexa had been contacted by the Australian Securities and Investments Commission (ASIC) who is investigating the issue.
He said the company had no idea the data was leaked and that the data had been made available to a third party.
However, it is not clear whether the leak was a genuine breach or a copycat.
The calculator was also criticised for showing a lower mortgage interest rate for some lenders.
The data is accurate, but the numbers are skewed by the fact that some of the lenders show higher rates for borrowers with lower credit scores.
For example, the lender with the lowest mortgage rate, Centurion, charges 8.25 per cent of a loan.
However, a borrower with a credit score of 680 would pay an extra $9,567.
This is a real problem for borrowers.
For many, the cost of paying the mortgage is far higher than the cost for the lender to pay the mortgage.
For the most part, this is the case in NSW, with many borrowers having to pay more to get their loan approved.
The NSW Consumer Credit Council says a higher interest rate on a loan is not the best idea for many borrowers.
It also warns that a loan with a lower interest rate is less likely to be approved.
Topics:financial-services,consumer-finance,credit-default-filing-system,financial-markets,housing-industry,finance-and-futures,industry-and/or-federal-government,law-crime-and—lobbying,state-parliament,nsw,act,york-2350,newcastle-2300First posted October 16, 2018 17:27:51Contact Emily DaleyMore stories from New South Wales