After the Reserve Bank of Australia decided to reduce variable interest rates by 0.25% on Tuesday these lenders are also reducing their home loan and investment loan variable interest rates. Westpac like the NAB and the Commonwealth Bank decided not to pass on the full interest rate cut and reduced their variable home loan and Read More
Similarly to Commonwealth Bank, the NAB announced today that they will pass on part of the variable rate cut by 0.20% for May 2015 The new variable interest rate reduction will be passed onto consumers on the 13th May and applies to most of their home loan and investment loan variable rate products. To see how other Read More
ANZ announced today that they will pass on the full variable rate cut of 0.25% for May 2015 after the RBA’s decision to reduce interest rates by 0.25%. Obviously, the funding pressures are not as relevant as the Commonwealth Bank’s announcement to only pass on 0.20% of the interest rate cut. The new variable interest Read More
The first major bank came out with their decision on interest rates, the Commonwealth Bank of Australia (CBA), have reduced their variable home loan and investment loan interest rates by 0.20%. This is less than the 0.25% recommended by the Reserve Bank of Australia. The 0.20% interest rate reduction will take affect on the 13th May Read More
The Reserve Bank of Australia (RBA) announced that it will move the official cash rate from 2.25% to a new record low of 2%. In a close call among economists, the RBA drop rates to stimulate the Australian economy and to put downward pressure on the Australian dollar. It is expected that Australia’s home loan Read More