Home Loan News

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.

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.

Investors get cold feet as banks put the squeeze on interest

September ABS figures showed that the investment housing commitments fell by a whopping 8.5 percent (seasonally adjusted) or $1.24 billion, from the previous month. The drop in investor borrowing is largely, if not solely, but to the introduction of different interest rates for investors and owner-occupiers, a practice which has been taken up by half the market already.

Reserve Bank unlikely to cut the cash rate... just yet

A number of key economic indicators are pointing to a rate cut this month, but experts agree that the RBA is likely to take a 'wait and see' approach.

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.

Cash rate on hold in October but low rates prevail

The RBA has left the cash rate on hold at two per cent this month, but some home loan rates are continuing to drop as the spring mortgage market heats up.

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.

Key indicators point to rate cut in May

Home loans rising with student demand

According to the head of the financial stability department at the Reserve Bank of Australia, part of the reason for higher property prices is the student population.

Australia's biggest gas-guzzling state about to pay up!

Are you paying off your credit cards as well as managing everyday expenses? If you use gas at home in Melbourne, you might be in for a nasty surprise.