Australia’s leading financial comparison site, RateCity.com.au, has taken a new step for the market today launching the inaugural Rates of the Nation report, a quarterly analysis of interest rate movements in the person finance space.
RateCity will analyse the data each quarter and customise the report featuring key developments over the quarter.
The first report is based on daily rate movements in the home loans, credit card and deposit account space over the past six months, with additional focus on the overall changes in the July to September quarter. It uses RateCity’s extensive database of over 7000 financial products, by far the largest offering in the comparison market.
Peter Arnold, product director RateCity.com.au, said, “We’re excited to bring a new offering to the market today and to be able to leverage the huge amount of data we have in our database.”
“While there is great research available in the personal finance space, including the Australian Bureau of Statistic’s housing finance data and the Reserve Bank’s credit card statistics, both of which look at the amount of debt Australians hold, we felt there was no-one doing a detailed rate analysis and we wanted to fill that gap,” he said.
Arnold added that it has been an interesting quarter for rate movements across all categories, despite no move in the cash rate for well over a year.
“We’re seeing some interesting trends emerge in the rate space and we’ll be tracking the key developments going ahead,” he said.
For further commentary, more detailed rate analysis, or suggestions for the next report, please get in touch. To view the report click here.