CBA to hike fixed and new customer variable rates next week – why this could be a game changer

Australia’s biggest home loan lender, CBA, has today announced it will be increasing the rates on select variable and fixed rates, effective Tuesday 18 July.

ANZ ditches fixed rates under 6%

Australia’s fourth largest bank, ANZ, has today increased its fixed rates for both owner-occupiers and investors by up to 0.55 percentage points.

Parliamentary inquiry into major banks set to scrutinise savings rates

Australia’s major banks’ savings rates are set to come under fire from tomorrow as they front the House of Representatives Standing Committee on Economics.

Houston, we have a problem: Australians struggling to clear credit card debt as cost of living pressures bite

Australia’s total credit card bill has climbed for the second month in a row to $17.77 billion as households reach for the plastic to make ends meet in the face of rising costs.

And then there were 3: NAB follows Westpac and CBA by slashing stress test for mortgage prisoners

NAB has announced it will lower the stress test on select refinance applications for borrowers who do not pass the bank’s standard serviceability test.

The RBA calls for ‘time out’ but the hikes unlikely to be over

The Reserve Bank has left the cash rate at 4.10 per cent today, hitting the pause button for just the second time since April 2022.

The great cashback escape: 8 banks drop their deals in one day

Just 15 lenders are now offering cashback deals, down from a record high of 35 in March 2023.

Refinancing bounces back after hitting a near record high

Refinancing bounced back in the month of May, increasing by $1.58 billion to a total of $20.97 billion – the second highest monthly value for external refinancing on record.

52% increase to borrowers’ biggest monthly expense: what a rate hike tomorrow will look like

A borrower with a $500,000 loan at the start of the hikes could see their biggest monthly expense rise by a total of $1,211 if the cash rate goes to 4.35 per cent tomorrow.

Savings rates could hit 6% by August as deposits hit a new record high

 A total of 12 banks are now offering ongoing savings rates of 5 per cent or more, with two banks leading the charge with rates of 5.50 per cent.