Average households with a variable mortgage will pay an extra $1,255 in 2010. Lenders to rake in extra $3.34 billion combined next year from households.
Rate rise will cost Australians 3.34 billion in 2010
Cash rate holds at 1.5%, yet mortgage stress on the rise
The RBA has left the cash rate on hold at the historical low of 1.5 per cent today. Yet, new research shows that the financial pressures of paying off a home loan are increasing.
Refinancing on the rise, as rates stall
As the RBA leaves rates on hold at 1.50 per cent today, new figures show the number of Australians refinancing their home loans is on the rise.
Variable rates to push below 3.5% in August, first time on record
Variable home loan rates are set to dip below 3.5 per cent this month – the lowest on record – following today’s decision by the Reserve Bank to cut the cash rate to 1.50 per cent.
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.