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Media Releases

Banks charge variable home loan borrowers an extra $18 BILLION!

19th of October 2012

Variable borrowers paid extra $18.1 BILLION over past 5 years: RateCity. Difference between major 4 banks’ average standard variable rate and cash rate almost doubled. Typical $300,000 mortgage borrower paid extra $11,687 over past 5 years. Borrowers urged to take action and switch as lenders withholding rate cuts “new norm”.

RateCity finds savers hit with sneaky rate drops!

16th of October 2012

69 savings accounts in RateCity’s database dropped by as much as 75 basis points this month. All 4 major banks cut savings accounts by up to 25 basis points. Savers urged to chase higher rates and switch!

Is it now better value to rent than buy?

13th of October 2012

Renters could pay a mortgage worth $312,415 compared to cost of national average house rent. Almost all capital cities saw YoY increases in rents: APM. RateCity’s tips for entering the property market.

Big changes ahead for deposit market

20th of September 2012

New regulations likely to push savings account rates down. 31-day notice accounts expected to hit the market. RateCity urges savers to watch out for rate drops and compare savings accounts!

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