Eden Radford

New highest savings rate of 5.70% hits the market

A new highest savings rate has hit the market, with MOVE Bank increasing its Growth Saver account by 0.20 percentage points to a maximum ongoing rate of 5.70 per cent.

Household deposits continue to climb but pace is slowing

Household deposits are continuing to rise, increasing by over $7 billion in the month of October and setting yet another record high at over $1.42 trillion.

Drop in inflation enough to shift the RBA back into neutral over summer

October’s drop in annual inflation from 5.6 per cent to 4.9 per cent, according to the ABS’ monthly consumer price index (CPI) indicator, is likely to be enough for the RBA to shift the cash rate back into neutral over summer.

Savings rates with no strings attached crack 5.50%

Australian Unity has today increased the rate on its Freedom Saver account by 1.25 percentage points to an ongoing rate of 5.50 per cent for balances of up to $50,000.

Westpac and NAB the next big banks to hike fixed + Westpac hikes new customer variable rates

Westpac and NAB – Australia’s second and third largest lenders – have both hiked the majority of their fixed rates for both owner-occupiers and investors, in some cases by up to 0.25 percentage points.

Shoppers warned to stay on track this Black Friday

Shoppers planning to hit the Black Friday sales should create both a list of things they need, and a water-tight budget, to avoid overspending or getting caught up in unnecessary debt.

CBA to lift rate on 3-year fixed mortgages in addition to variable hikes

CBA, Australia’s largest bank, will be increasing the rate on its 3-year fixed mortgages, for both owner-occupiers and investors by 0.30 percentage points, effective in two days’ time (17 November).

CBA steps up for savers – how the big four banks now stack up

CBA has announced it will be passing on the full 0.25 percentage point hike to its variable mortgage customers, effective 17 November.

ANZ and Westpac the next to announce full hikes to variable mortgage customers

ANZ and Westpac have followed in NAB’s footsteps, announcing they will be passing on Tuesday’s cash rate hike to their variable mortgage customers in full.

NAB announces rate hikes

NAB has announced it is passing on Tuesday’s cash rate hike to variable borrowers in full, effective 17 November.