UPDATE: NAB, Commonwealth Bank, BOQ and ING Direct drop home loan rates by 0.25%, Westpac by 0.28% The Reserve Bank of Australia announced a 0.25% official cut to interest rates, down to 2.50%. The lowest in Australia’s history. Although this is welcome news for variable interest rate home loan and other mortgage holders; however, it Read More
ANZ decided to decrease their variable interest rate for home and investment loans by 0.27% which is .02% more than the other banks. I see on twitter and in news reports praising the bank for being generous. Let us not forget the bank has increased its margin by 0.49% since November 2010. So the 0.02% Read More
UPDATE 2 – 7/5/13 @ 5:20 pm: Commonwealth Bank and Westpac will also reduce their variable mortgage rates by 0.25%. We will have to wait until Friday for ANZs decision. I expect St George Bank, Bank of Melbourne, Bank SA and RAMS all to follow their owner Westpac. Check below for more changes. UPDATE 7/5/13 Read More
*********** UPDATE: Recent Bank Rate Decisions ****************** ANZ hae reduced their mortgage rates by 0.20% today on the 14th December Westpac and St George will drop their variable interest rate by 0.20% effective December 17th Commonwealth Bank (CBA) and NAB announced that they will drop their varibale rates by 0.20% effective December 10th ING Direct Read More
Today the Reserve Bank of Australia announce that they will leave interest rates on hold. I won’t go into the reasons why they decided to leave rates on hold because you can read it on their website. This does not mean to say that some lenders may not change their interest rates. I will keep Read More
Update 12th October 2012: ANZ announces a 0.20% drop in their variable rate 0.05% short of the full rate decrease Rates announces by AMP, Bank West, Bank of Melbourne and Bendigo Bank. Adelaide bank will not pass on the rate cut until the 26th October making their customers pay the higher interest rate for 24 Read More