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
St George, Bank of Melbourne and Bank SA are offering a $1500 refinance cashback until further notice. This is available for owner occupier and residential investment refinances. – To be eligible for this cashback you must satisfy the following conditions; – Limited to one customer only. Customers with multiple applications are limited to this 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
NAB have announced that they will be increasing their variable interest rates by 0.17% effective 12th November 2015. Following Westpacs and Commonwealth Banks move to increase variable interest rates they too cited that they are partially offsetting costs associated with recent changes to capital requirements. We also expect ANZ to follow in the coming days. 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