NEWS & VIEWS
News, info and tips to help you save
What to expect from the RBA meeting in December 2023
As 2023 draws to a close, it’s time to ask if the Reserve Bank of Australia (RBA) has one more rate rise left in the tank for the year. Economists from some of Australia’s leading banks have their own thoughts, based on previous RBA updates, new inflation data, and their own economic modelling for 2024 and beyond.
Household deposits continue to climb but pace is slowing
Household deposits are continuing to rise, increasing by over $7 billion in the month of October and setting yet another record high at over $1.42 trillion.
Drop in inflation enough to shift the RBA back into neutral over summer
October’s drop in annual inflation from 5.6 per cent to 4.9 per cent, according to the ABS’ monthly consumer price index (CPI) indicator, is likely to be enough for the RBA to shift the cash rate back into neutral over summer.
One in 25 Australian homes could be uninsurable by 2030: Is yours at risk?
A report released by the Climate Council has revealed that nationwide, approximately 520,940 properties – or one in every 25 – will be effectively uninsurable by 2030.
Savings rates with no strings attached crack 5.50%
Australian Unity has today increased the rate on its Freedom Saver account by 1.25 percentage points to an ongoing rate of 5.50 per cent for balances of up to $50,000.
Is this the right time to buy a house?
Amid rising property prices and mortgage rates, assess your financial readiness before considering buying a house in Australia.
Australian banks unite to stop scammers – how you can protect yourself
Australia’s banking industry is stepping up its war on scams and fraud, launching a new Scam-Safe Accord intended to put scammers out of business in Australia.
Westpac and NAB the next big banks to hike fixed + Westpac hikes new customer variable rates
Westpac and NAB – Australia’s second and third largest lenders – have both hiked the majority of their fixed rates for both owner-occupiers and investors, in some cases by up to 0.25 percentage points.
More lenders to help buyers with low deposits through Home Guarantee Scheme
More of Australia's biggest banks are now part of the Australian Government’s Home Guarantee Scheme. Westpac subsidiaries St.George, Bank of Melbourne and BankSA have joined into the scheme.
Shoppers warned to stay on track this Black Friday
Shoppers planning to hit the Black Friday sales should create both a list of things they need, and a water-tight budget, to avoid overspending or getting caught up in unnecessary debt.
Extreme weather insurance costs set to triple by 2050: are you prepared?
Australians are resilient but the inflating cost of insurance premiums, as a result of extreme weather, will test our resolve over the course of the next few decades. Consider other economic factors, such as rising interest rates plus inflation, and the forecast is quite bleak. Discover what you can do to combat the doom and gloom.
Queensland doubles first home owner grant – what this means for you
The Queensland state government has announced that it would be doubling the state’s first home owner grant (FHOG) from $15,000 to $30,000, in what was described as a pre-Christmas bonus. So how does this affect Queenslanders hoping to put their first foot onto the property ladder in the new year?
Which banks have hiked term deposits and savings accounts in November 2023?
The November 2023 meeting of the Reserve Bank of Australia (RBA) board saw the national cash rate rise by 25 basis points to 4.35% - the thirteenth hike of the current cycle that began in May 2022.
Top 10 storm hotspots – is your home covered?
New research has revealed the locations in New South Wales, Victoria and Queensland that were hit hardest by wild weather over the past financial year. With Australia coming into an El Nino summer, it’s important to make sure your home insurance is prepared, especially if you’re living in one of these areas.
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