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RBA SOFTENS ITS OUTLOOK
- July 5, 2011
- Posted by: admin
- Category: Finance News
No CommentsAt its meeting today, the Board decided to leave the cash rate unchanged at 4.75 per cent. The global economy is continuing its expansion, but the pace of growth slowed in the June quarter. The supply-chain disruptions from the Japanese earthquake and the dampening effects of high commodity prices on income and spending in
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Westpac has cut interest rates on its fixed rate home loans
- June 28, 2011
- Posted by: admin
- Category: Finance News
Westpac bank reduced rates for its Home and Investment Property Loan for two to 12 year fixed rates, effective today. The two and three year fixed rate products will see a 20 basis point decrease, while the four through 12 year products have been cut by 10 basis points. Westpac stated that the reduction gives them the
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Lenders battle over fixed interest rates
- March 15, 2011
- Posted by: admin
- Category: Enconomy, Home loan product, Inflation, Interest rate
Competition amongst the banks is heating up in the fixed rate arena with ANZ the latest to announce changes to its two year fixed loans. Last week, ANZ became the third lender in as many days to slash its rates, cutting its two year fixed rate by 5 basis points, taking it to just 7.19
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Banking reforms bad news for brokers
- December 14, 2010
- Posted by: admin
- Category: Bank fees, Government banking reform
Treasurer Wayne Swan’s proposed banking reforms could have negative ramifications for brokers. It is hard to tell what impact any banking reforms would have on brokers until they are formally introduced, the government’s plan to slash mortgage exit fees could force lenders to recoup these costs elsewhere. I think there is a good chance the
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Interest Rates to hold
- November 22, 2010
- Posted by: admin
- Category: Finance News
The RBA is widely expected to leave rates on hold until February 2011. Last month, the Reserve Bank lifted rates by 25 basis points – the first rate hike in six months. While there has been growing speculation that the RBA could lift rates again in December, I think this is unlikely given the banks
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Enconomy stalled, no good for home owners
- November 19, 2010
- Posted by: admin
- Category: Enconomy, House prices, Inflation, Interest rate
Australia’s economic recovery has stagnated in the last six months, according to recent research. The latest Westpac–Melbourne Institute Growth Index found the annualised growth rate was 4.6 per cent in September. The speed of the turnaround is“a little disconcerting. The growth rate of the Leading Index continues to point to a solid pace of expansion heading
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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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Refinancing could be costly
- November 16, 2010
- Posted by: admin
- Category: Bank fees, Interest rate
Mortgage holders should carefully weigh up their options before shifting to a rival lender. All the controversy over interest rate hikes and bank fees has resulted in an increase in refinancing enquiries. Those considering a change need to investigate all of the costs associated with refinancing. My advice is to think before you leap. It
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ANZ hike interest rates
- November 11, 2010
- Posted by: admin
- Category: Finance News, Home loan product, Interest rate
ANZ has become the second bank in as many weeks to move out of cycle with the RBA. Yesterday the major lifted its standard variable mortgage rate and business lending rates by 0.39 per cent – well above the RBA’s 25 basis point cash rate hike, but just shy of CBA’s 0.45 per cent rate
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Inflation = Home Loan Rate Rise
- October 20, 2010
- Posted by: admin
- Category: Inflation, Interest rate
Inflation data due out at the end of this month will ultimately dictate whether or not the RBA lifts rates At a component level, this is expected to be driven by solid growth in rents, utilities and property charges, and from a broader perspective, by solid growth in aggregate demand. These figures suggest a rate