The Commonwealth Bank has hiked its two- and four-year fixed rates by 0.05 per cent in a move that will leave many Australians “kicking themselves”. The interest rate hikes apply to owner-occupiers paying principal and interest and marks the third time CommBank has increased its four-year rate since the beginning of the year. It’s the first …
The vast majority of Australian home owners have not been taking advantage of record low interest rates by refinancing their home loan. The CEO and general manager of Domain Home Loans Kareene Koh said most Australians assume that loyalty will bring better rates, but sadly that’s not the case. “The gap in interest rates between what a new …
90% of Aussies miss out on cheaper mortgage due to one simple trick Read More »
Sydneysiders currently locked down at home due to Covid-19 could be better supported financially through a national package that will be available to all small businesses and home loan customers. The Australian Banking Association announced the support package on Friday for customers affected by continuing COVID-19 lockdowns or those recovering from recent lockdowns. Possible support …
National support packing to help struggling residents in lockdown Read More »
The Reserve Bank of Australia has opted to keep the official cash rate at its current record-low following its latest board meeting, but a number of economists say that growing inflation means rates will rise earlier than predicted. One third of economists surveyed by comparison website Finder predicted an increase in the official cash rate …
Why interest rates could be set to rise in 2022, and what it means for homebuyers Read More »
The Reserve Bank is carefully monitoring lending standards as investors add heat to the property market, joining home buyers with a fear of missing out. Property prices are surging in all markets and rising demand for credit is also a concern, as Australia already has high levels of household debt. “We’re watching very carefully the …
One of Australia’s biggest banks has upped its four and five-year fixed mortgage rates for owner-occupiers only, while property investors won’t cop a rise at all. However, the big four bank also shaved its two year fixed rate by 0.10 per cent, taking it down to 1.94 per cent for owner-occupiers. Investor two-year fixed rates …
Major bank hikes rates, makes big RBA prediction Read More »
First home buyers would get a $25,000 grant to help them enter the market as the NSW government moves to overhaul property tax at the same time as home ownership for people under 40 plummets. A grant would replace existing stamp duty concessions for first home buyers under the property tax reforms, which would initially allow …
NSW to offer $25,000 grant for first home buyers in stamp duty overhaul Read More »
Many Australians, towards the end of every month, face the sometimes daunting task of making repayments on their principal and interest variable rate home loan. Have you ever stopped and asked yourself how a bank works out what that variable rate should be? And once you’ve worked that out, can you determine if homeowners are …
The big banks could drop their variable rates much lower, but by how much? Read More »
Ultra-low home loans could be on the way out with the nation’s biggest lender hiking rates for the second time since March. Commonwealth Bank has upped its three and four year fixed term owner occupier rates by five basis points and 10 basis points on investor only loans. CBA’s decision to hike its three-year rate …
Commonwealth Bank has bumped up its three and four year fixed rates on home loans Read More »
NAB and Macquarie have today joined 15 other lenders in hiking their four and five year mortgage rates. NAB will increase its four and five year fixed term rates by up to 0.25 per cent for owner-occupier loans with principal and interest repayments. Macquarie Bank has also increased the rate on its four and five …
