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Would your bank return $81,000 of Overcharged interest to you?
- February 20, 2015
- Posted by: admin
- Category: Bank fees, Bank Profits, Budget, Enconomy, Finance News, Financial goals, Home loan product, Interest rate, Wealth
No CommentsIt is not uncommon in the world of finance to find out many years later that the home loan that was set up for you wasn’t actually followed through as intended with the lending institution. We have all heard of lenders over charging interest every now and then, some accumulating to a few thousand
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Borrowers should be paying less for their home loans
- July 23, 2014
- Posted by: admin
- Category: Bank Profits, Enconomy, Finance News, Financial goals, Home loan product, Interest rate, Wealth
Here’s a round-up of interesting statistics you might want to know about: Australians are worried about not having enough money for retirement: Over half the participants of the 2014 MLC Retirement Survey expect not to have enough money to retire on. One in three people expect a sizeable financial shortfall at retirement and only 3.5
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Banks, Mining Towns and Rental Yields
- December 3, 2013
- Posted by: admin
- Category: Bank Profits, Budget, Enconomy, Finance News, Financial goals, Home loan product, Inflation, Interest rate, Rental Growth, Wealth
We’ve all read those adverts in the industry magazines and publications. You know … the ones touting super high rental yields on average houses or townhouses in a far flung mining town. So it was a kick in the teeth for those developers and marketers recently when CBA, Australia’s biggest housing lender, announced that when
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Interest rate cut looming
- June 4, 2012
- Posted by: admin
- Category: Bank Profits, Enconomy, Finance News, Financial goals, Inflation, Interest rate, Wealth
With the latest data from the Australian Bureau of Statistics showing the Australian economy is not performing strongly, there is a good possibility that the Reserve Bank will choose to cut the official cash rate again at tomorrow’s board meeting. The latest figures from the Australian Bureau of Statistics showed that retail spending dropped by
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CBA follows NAB lead
- May 3, 2012
- Posted by: admin
- Category: Bank Profits, Enconomy, Finance News, Financial goals, Home loan product, Inflation, Wealth
The Commonwealth Bank of Australia has cut its standard variable rate and thrown down the gauntlet to ANZ and Westpac. This morning, CBA announced it would cut 40 basis points from its standard variable rate, taking it to 7.01 per cent – 0.02 per cent higher than National Australia Bank. Yesterday, NAB announced it would cut
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Majors hold fire on interest rate cut
- May 2, 2012
- Posted by: admin
- Category: Bank Profits, Enconomy, Financial goals, Home loan product, Inflation, Interest rate, Wealth
Australia’s major banks are unlikely to pass on the full 50 basis point rate cut to borrowers. Yesterday, the Reserve Bank cut the cash rate by 50 basis points to 3.75 per cent the biggest drop since the peak of the Global Financial Crisis and the lowest level since December 2009. Within hours of yesterday’s announcement The
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Banks to move regardless of RBA
- March 6, 2012
- Posted by: admin
- Category: Bank Profits, Enconomy, Finance News, Financial goals, Inflation, Interest rate, Wealth
Regardless of what the Reserve Bank does when the Board meets later today, Australia’s banks could lift their rates for the second consecutive month. Lenders are saying the costs of funds have risen by approximately 100 basis points in the past few months, which is having a huge impact. On average, banks source approximately 30 per
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Interest Rates to Fall
- February 24, 2012
- Posted by: admin
- Category: Bank Profits, Budget, Enconomy, Finance News, Financial goals, Home loan product, Inflation, Interest rate, Wealth
I believe the RBA now looks set to stay on hold for a few months. I think there are another two rate cuts still to come but May and July now look to be the most likely timing. Will the consumer see these rate cuts in full? I very much doubt it as the big four
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ANZ Ignore RBA & Increase Rate
- February 10, 2012
- Posted by: admin
- Category: Bank Profits, Budget, Enconomy, Finance News, Financial goals, Home loan product, Inflation, Interest rate, Wealth
ANZ today announced it will increase interest rates for variable rate mortgages and small business lending by 0.06%pa. This is the first time the bank has moved to increase its rates independently of the RBA’s cash rate since it announced its split with the central bank’s pricing in December last year. According to a statement
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Banks likely to withhold rate cut
- February 1, 2012
- Posted by: admin
- Category: Bank Profits, Enconomy, Finance News, Financial goals, House prices, Interest rate, Wealth
While industry stakeholders remain at odds over whether or not the Reserve Bank of Australia will drop the cash rate when the Board meets next week, it is becoming increasingly unlikely that Australia’s banks will pass on any rate cut in full. The banks have gone to great lengths to forewarn borrowers and brokers that
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