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Media Releases

Rates on hold…indefinitely so for credit cards?

3rd of December 2013

The Reserve Bank of Australia passed on the last chance for the year to boost borrower confidence before Christmas, by keeping the official cash rate on hold at 2.5 percent today.

Aussies' $10.7m 'gift' to banks

25th of November 2013

Credit card users owe a massive $48.8 billion on their cards, with more than $34.2 billion accruing interest, latest Reserve Bank figures show. And RateCity estimates that plastic debts will balloon by 2 percent in January as the nation deals with Christmas spending hangovers.

Fixed rates rise further in November

21st of November 2013

A growing number of institutions are increasing the interest rates on their fixed home loans – a move that shows their hand on where they think the market might be heading.

How government can really help first home buyers

15th of November 2013

Despite record low interest rates, first home buyers now account for less than 10 percent of all new home loan dollars financed – a record low. Yet an opportunity to support a savings initiative for first home buyers is going to waste, according to Australia’s leading financial comparison website, RateCity (www.ratecity.com.au).

One in six give big banks the flick

14th of October 2013

Borrowers are flocking to smaller banks and mortgage lenders, which are stealing market share away from the major banks, new research from Australia’s largest financial comparison website, RateCity (www.ratecity.com.au), has found.

Borrowers $600 better off over the course of 2013

2nd of October 2013

Despite no movement to the cash rate today, variable borrowers with a typical $300,000 home loan would be around $600 better off by the end of the year based on the previous two rate cuts in May and August 2013.

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