On Melbourne Cup day the Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%. We expect that most lenders will leave their variable interest rates unchanged but we will continue to monitor lenders for rate changes outside the official rate. If there are Read More
The Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%. The economy has shown some signs of growth and it is expected that inflation is tracking to exceptions. The new Reserve Bank Governor, Phillip Lowe, warned earlier this month that the government are required Read More
UPDATE 3:15 pm: Commonwealth Bank (CBA) have only passed on 0.13% of the 0.25% rate cut. We expect other banks and lenders to follow their lead. Not long after the Commonwealth Banks decision NAB, ANZ and Westpac have all reduced variable interest rates but not by the full amount. They are making their mortgage Read More
Three days after the 2016 election The Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.75% . There is a very strong chance that variable interest rates are likely to fall next month but we will have to wait and see. We expect that most lenders will leave Read More
Soon after the Reserve Bank of Australia announced they will reduce the official cash rate from 2.00% to 1.75%, the major banks and many other lenders have decided to pass on the full interest rate cut of 0.25%. Interestingly, NAB were the first to make the announcement to reduced their variable home loan and investment loan interest Read More
UPDATE: ING DIRECT will increase variable interest rates on all residential loan products by 0.18% p.a. effective from 15 January 2016. At yesterdays’s board meeting the Reserve Bank decided to leave the cash rate unchanged at the current low of 2.00%. However, over the last few weeks the major banks and other lenders have been busy Read More