Jobs growth puts the brakes on mortgage rate cuts in 2016

Unemployment reached a low 5.8 per cent in November according to the latest ABS figures for November, for the first time since May 2014, fuelled by a hefty rise in new jobs created of 71,400 which is the biggest monthly increase in decades. Some economists and commentators are now suggesting the RBA is more likely to leave the cash rate on hold in 2016, or up, as a result of the surprise jobs figures. Bank of America Merrill Lynch is one such organisation who is predicting the RBA could raise rates if the jobs boost continues, as reported in the Australian Financial Review.

Bank of mum and dad' popular choice for first home buyers

It’s always been a bank you can trust, but just how popular is the bank of mum and dad? New RateCity research shows that half of Gen Y couples now need financial help from their parents to get into the property market. Property prices have sky-rocketed in the last five years, particularly in our capital cities, so it’s no wonder a lot of younger people are struggling to outbid cashed-up investors at the point of sale.

RBA leaves cash rate on hold but fixed mortgages drop

The RBA left the cash rate on hold today at 2 per cent in what was one of the most predicted rate announcements in recent years. Today’s decision by the board means the cash rate has remained steady for the last seven months, with just two rate increases in 2015 in February and May. There are mixed views on whether rates will drop further in 2016. Shane Olliver, Chief Economist at AMP Capital believes there will be another interest rate cut.

Glenn Stevens unlikely play Santa for mortgage holders today

The Reserve Bank is tipped to pass up the last opportunity to cut the cash rate in 2015, when the board meets this afternoon, leaving rates steady at 2 per cent for the seventh month in a row. This is despite many economists believing another rate cut is necessary in the near future to give the Australian economy another kick along.

Banking satisfaction still runs high despite some frostiness

The results are in and customer satisfaction in the big banks is down, according to new Roy Morgan survey released today.

"She'll be right" attitude leaves Aussies underinsured

Life is full of surprises and they aren’t all guaranteed to be good. That’s where income protection insurance can help. Income protection insurance can pay up to 75 per cent of your salary while you are unable to work, to help you meet essential repayments and keep your family budget afloat.

Big 4 banks lift rates in a big day for home loan customers

ANZ and NAB today announced they were lifting their variable home loan rates, joining Westpac and CBA in what is now a bulk move by the big four banks to increase their mortgage rates.

Turnbull moves to stamp out excessive card surcharges

The Federal Government will introduce a ban on excessive card surcharges, to be phased in from mid next year, to stop customers getting unfairly ripped off when they pull out their plastic.

RBA cash rate set to remain on hold this October

Interest rates are set to remain on hold at two per cent when the Reserve Bank meets on Tuesday 6 October, according to RateCity’s monthly analysis of key economic indicators.

Differential home loan pricing set to stay

The slowing in investor borrowing revealed in RBA figures released today are set to continue in coming months with more lenders offering different home loan rates, according to leading financial comparison website RateCity.