Calls for US home loan contracts to be shorter

A survey by the US Federal trade Commission has found that one-third of borrowers surveyed could not quote their interest rate, with two-thirds unaware of whether their loan included pre-payment penalties designed to avoid refinancing.

March rate rise looms large on horizon for home owners

Economists are confidently predicting yet another interest rate rise for struggling home owners after minutes of the Reserve Bank of Australia (RBA) board meeting in early February was released today.