Laine Gordon is the Head of Public Relations at RateCity and an experienced journalist and research specialist. With a background in news and feature writing, covering finance, media and even food (a passion of hers) at Reed Elsevier publications, Laine brings almost two decades of experience to the team. Having covered major areas of interest to the general public from hip pocket issues to rising and falling interest rates and the impact to mortgages, credit and saving in Australia, she is passionate about researching and telling people’s stories to help others make better decisions about their own finances.
1305 articles written by Laine Gordon
BOQ matches ING for highest ongoing savings rate at 5.50%
Bank of Queensland has announced an increase to its Future Saver account, with a new rate of 5.50% from 16 June. This increase puts it on par with ING’s Savings Maximiser. Both now have the highest ongoing savings account rates in the market.
New highest ongoing savings rate hits 5.50%
ING has announced it is increasing the maximum rate on its Savings Maximiser by 0.25 percentage points to 5.50 per cent in two days’ time.
NAB announces rates hikes – how the big four banks now stack up
NAB is the last of the big four banks to announce it is passing on Tuesday’s cash rate hike to variable mortgage holders in full, effective 16 June.
CBA and ANZ hike mortgage rates but ANZ leaves savers in the cold
CBA will be passing on the full hike to all three of their key savings accounts. As a result, the highest ongoing savings rate from Australia’s biggest bank will be 4.65 per cent for all adults, while YouthSaver customers will get 4.75 per cent, provided they meet the bank’s terms and conditions.
Borrowing power shrinks by almost $250K after 12 RBA hikes
Rapidly rising interest rates could see the average family’s maximum borrowing capacity shrink by $247,700, compared to April last year, once the latest RBA hike takes effect.
Turning to the plastic – credit card use at its highest since 2021
RBA credit card data has revealed Australians are turning to the plastic at levels not seen since August 2021, with total credit card debt accruing interest hitting $17.76 billion in April.
Risky lending plummets but offset balances continue to climb, despite rate hikes
The value of new home loans with risky levels of debt has plummeted, according to new data released by APRA yesterday.
Westpac hikes mortgage rates by 0.25%, stays quiet on savings accounts
Westpac has announced it will pass on the latest 0.25 percentage point RBA hike to its variable mortgage customers.
RBA hits keep coming – cash rate now enters the ‘4s’
The cash rate will climb into the ‘4s’ with the RBA announcing the nation’s twelfth cash rate hike since May 2022.
Refinancing takes a $2 billion hit – but heat not out just yet
The value of refinanced loans took a tumble in April, recording a $2 billion drop compared to the previous month.