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ANZ announces rate decision
- January 13, 2012
- Posted by: admin
- Category: Bank Profits, Enconomy, Finance News, Financial goals, Inflation, Interest rate, Wealth
No CommentsFollowing ANZ’s first out of cycle interest rate pricing assessment, the bank has left its standard variable rate for retail mortgages and small business lending unchanged, at 7.3 per cent. ANZ last month said the bank would announce any changes to these rates on the second Friday of each month, rather than in response to
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First major moves on rates
- December 8, 2011
- Posted by: admin
- Category: Bank Profits, Budget, Enconomy, Finance News, Financial goals, Home loan product, Inflation, Interest rate, Wealth
Two days after the RBA Board made its announcement the first full 25 basis point rate cut has been delivered by one of the big four banks. ANZ has made the decisive move, handing borrowers the full quarter percent. After a tense stand-off between the biggest banks ANZ has sent a strong message to the
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Fixed Rate Price War Continues
- October 5, 2011
- Posted by: admin
- Category: Bank Profits, Budget, Financial goals, Home loan product, Interest rate, Wealth
Over the last two months, almost all of Australia’s lenders have slashed the interest on their fixed rate products, with CBA, ANZ, Westpac and NAB carving up to 20 basis points off their respective fixed rates. Variable rates have also seen heavy discounting. Good news for consumers.
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Fixed interest rate demand falls
- March 7, 2011
- Posted by: admin
- Category: Bank Profits, Home loan product, Interest rate
A spate of attractive variable rate promotions from Australia’s largest lenders has resulted in reduced appetite for fixed rate mortgages. Demand for fixed rate products fell last month the first fall since July 2010. The appetite for fixed interest rates is now at its lowest since October 2010. Last month’s fall in demand coincides with
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Major Lenders increase loan to value ratio
- February 28, 2011
- Posted by: admin
- Category: Bank Profits, Home loan product, Interest rate
The Commonwealth Bank has become the latest in a long line of lenders to increase its maximum LVR. Over the weekend, the major announced it would allow all new mortgage customers to borrow up to 95 per cent of the value of a property. Previously, new customers were limited to 90 per cent LVR, while
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Banks cost of funds just an excuse
- November 17, 2010
- Posted by: admin
- Category: Bank fees, Bank Profits, Inflation, Interest rate
A new report has found the banks interest expenses have risen by less than the RBA’s rate hikes. According to the Australian Institute report, the major banks have been profiteering by lifting rates above the RBA’s official moves. All the major banks have consistently claimed that their costs are rising by more than the official
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