We all know the news that all banks and smaller lenders have passed on the full 0.25% rate cut. The question is, when will they pass it on? As mentioned in an earlier post lenders are quick to pass on interest rate increases but slow to pass on interest rate decreases. Below is a table comparing Read More
Yesterday saw ANZ to be the first of the big banks to pass on the full interest rate cut to its variable rate customers. Later that day NAB, ING Direct and Commonwealth Bank followed. Westpac waited until the evening to announce their intention. I expect all the second tier banks and other lenders to follow. Read More
NAB announced that it will pass on the full 0.25% rate cut to its customers following ANZ earlier today. We are now waiting on the two other major banks and 30 or so other lenders to make their announcements. We will also keep you updated on when they will be passing on these rate cuts. If you Read More
ANZ announced today that they will pass on the full 0.25% rate cut to its variable mortgage rate customers. This may force the other banks to follow suite. As always we will keep you updated as the news from the other banks and lenders come through.
The Bank of Queensland announced today that they will pass on the full 0.25% interest rate cut but what’s the catch. The catch is they will not reducing their interest rates until the 16th December and this will bring their standard variable rate to 7.36%. Assuming that the other banks and lenders pass on the full rate Read More
The Reserve Bank of Australia cut interest rates from 4.50% to 4.25% today. This may seem to be an early Christmas present for mortgage holders but there are rumors that the banks will not pass on the full rate cut. So here we go again. Let us wait and see what ANZ, NAB, Westpac, Commonwealth Bank, ING Read More