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NAB cuts rates: lowest in 40 years
- February 5, 2015
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, First Home Buyer, Home loan product, Inflation, Interest rate, Investment Property, Property Renovation, Self Managed Super Funds, Wealth
No CommentsNational Australia Bank has become the third major lender to pass on the Reserve Bank’s rate cut in full. NAB today announced it would cut its standard variable home loan rate by 25 basis points to 5.63 per cent per annum. The major bank said home loan customers will save an average $62.50 a month
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Feb rate cut unlikely
- February 1, 2013
- Posted by: admin
- Category: Budget, Enconomy, Finance News, Financial goals, Inflation, Interest rate, Wealth
A majority of Australian homeowners do not expect the Reserve Bank of Australia (RBA) to cut the official cash rate when the board meets next week. According to a survey conducted, 55 per cent of respondents believe the cash rate will remain at its current level of 3 per cent. Of the 452 respondents,
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Buying cheaper than renting: RP Data
- December 21, 2012
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, Home loan product, House prices, Inflation, Interest rate, Wealth
There are now 494 suburbs across Australia’s capital cities and regions where it’s cheaper to service a mortgage than pay a landlord, according to new research by RP Data. In the latest Buy Vs Rent Report, RP Data found Queensland boasts the greatest number of suburbs and towns – at 185 – where it’s cheaper
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RBA cuts rates
- December 4, 2012
- Posted by: admin
- Category: Australian Dollar, Enconomy, Finance News, Financial goals, House prices, Inflation, Interest rate, Wealth
The Reserve Bank of Australia has stripped 25 basis points from the official cash rate, taking it to the all time low of 3 per cent. The rate cut means the Reserve Bank has now slashed 125 basis points from the cash rate over the last 12 months. While the official rate now sits at
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Fixed rate cycle tipped to turn
- July 25, 2012
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, Home loan product, House prices, Interest rate, Wealth
Despite a spate of recent data indicating that the popularity of fixed rates is waning, now might be the right time for mortgage holders to fix their loan. Fixed rates are very low at the moment lower than they have been in years and as such, borrowers should think about fixing part or all of their home
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ANZ delivers rate cut
- June 8, 2012
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, House prices, Inflation, Interest rate, Wealth
In a move that will likely surprise the market, ANZ has passed on the RBA’s full 25 basis point cash rate cut. The lender is the first of the majors to move, cutting interest rates by 25 basis points, from 7.05 down to 6.80 per cent, effective 15 June. The move will put other major lender NAB
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RBA cuts rates
- June 5, 2012
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, Inflation, Interest rate, Wealth
The Reserve Bank of Australia has cut the official cash rate for the second consecutive month. The decision came as no surprise to many economists after last night’s share market fiasco. Australian shares hit a six month low at close of business yesterday, wiping approximately $23 billion from the share market. This teamed with the recent drop in
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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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Rate cut fails to improve sentiment
- May 18, 2012
- Posted by: admin
- Category: Budget, Enconomy, Financial goals, Home loan product, Inflation, Interest rate, Wealth
Consumer sentiment is flat, despite a 50 basis point cut from the Reserve Bank. The Westpac Melbourne Institute Index of Consumer Sentiment increased by 0.8 per cent in May from 94.5 in April. Westpac’s Chief Economist, Bill Evans, said the results were surprisingly low and fell well below expectations. Its is a disappointing result. It follows a surprise
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More banks move rates
- May 9, 2012
- Posted by: admin
- Category: Enconomy, Financial goals, Home loan product, Interest rate, Wealth
As more lenders continue to move on rates, one thing is becoming very clear: no lender is prepared to pass on the full rate cut to borrowers. In the last few days, BankSA cut 38 basis points from its standard variable rate to 7.04 per cent, while St George also cut 0.38 per cent from its