A subsidiary of Australia’s biggest bank has delivered a surprise gift to prospective homeowners just two weeks before Christmas. Bankwest, a part of Commonwealth Bank, announced this week it would reduce its variable rates on new home loans for owner-occupiers and investors by 0.1 per cent, effective from Friday. TheContinue Reading
A war of words has erupted after the Coalition’s finance spokesperson said inflation was “out of control” before being reminded it was higher when she was in government. Jane Hume said the government must do more to help tackle inflation and aid struggling Australians after the Reserve Bank passed onContinue Reading
Despite catastrophic predictions of the fixed rate mortgage ‘cliff’ that has generated headlines for months and sowed fears of widespread defaults and increasing arrears, household borrowers have, so far, weathered the interest rate storm. But with the possibility of fresh rate pain on the horizon, the outlook for borrowers againContinue Reading
The Australian share market recorded its third consecutive day of losses on Wednesday, with the local benchmark weighed down by a drop led by energy stocks. The decrease comes ahead of crucial rates decisions from the US Federal Reserve, the Bank of England and the Bank of Japan in theContinue Reading
Economists say whether or not the Reserve Bank of Australia raises interest rates one more time after their monthly board meeting next week or not, Aussies will feel the pain for months to come. Australia’s central bank has hiked interest rates every month since May last year, with the exceptionContinue Reading
Australia’s central bank has just delivered another blow to borrowers across the country as it hiked interest rates yet again. On Tuesday afternoon, the Reserve Bank of Australia (RBA) increased the cash rate by 25 basis points, bringing it to 4.10 per cent. That’s a significant jump from the historicContinue Reading
Adam Bandt has sensationally accused Anthony Albanese of caring more about missiles and tax cuts for the well-off than Australians struggling with the cost of living. In his address to the National Press club on Wednesday, the Greens leader put the Prime Minister on blast for not acting on twoContinue Reading
A whopping 2370 Aussies are refinancing their mortgage every working day as interest rates have seen homeowners hit with 10 painful consecutive hikes. In a battle to tackle the rising cost of inflation, interest rates have risen from a record low of 0.1 per cent to 3.6 per cent sinceContinue Reading
While the Reserve Bank of Australia handed down a 10th consecutive rate rise on Tuesday, the extent of the interest rate carnage will depend on one key figure: Australia’s inflation rate. In 49 days, when January’s Consumer Price Index (CPI) quarterly update is released by the Australian Bureau of Statistics,Continue Reading
Today host Karl Stefanovic has unleashed in a savage rant on air after the RBA has issued its ninth consecutive rate hike. RBA Governor Philip Lowe announced the bank would be hiking interest rates by another 25 basis points on Tuesday, taking the baseline rate from 3.1 per cent toContinue Reading