Search Results for: Sally Tindall
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INDUSTRY NEWS
ANZ and Westpac lift fixed rates again
ANZ and Westpac have again hiked the interest rate on their fixed rate loan products.
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INDUSTRY NEWS
Rate hikes to impact borrow capacity
Rising interest rates could see average home buyers’ borrowing capacity fall by more than $150,000, according to new research.
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INDUSTRY NEWS
Homeowners should expect more rate rises
Homeowners should be prepared for a series of rate hikes with experts tipping the official cash rate could rise to 2.6 per cent.
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INDUSTRY NEWS
Three of the big four banks predict a May rate hike
The big four banks continue to bring forward their cash rate rise predictions, with three of the majors now forecasting the official cash rate (OCR) will increase next week, with more hikes “imminent”.
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INDUSTRY NEWS
Big 4 banks tip interest rates to rise in June
The big four banks have revised their cash rate forecasts, tipping the next tightening cycle to start as early as June.
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INDUSTRY NEWS
NAB cuts its variable home loan interest rate
Tight competition between the big four banks has seen NAB cut its variable home loan interest rate by 0.1 per cent to 2.19 per cent, although the change is only for new owner-occupiers.
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INDUSTRY NEWS
ANZ scraps its most popular home loan
ANZ will scrap its most popular Breakfree package in a move that will impact 350,000 existing customers.
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INDUSTRY NEWS
ANZ increases fixed rate home loans up to 0.4 per cent
ANZ has joined it’s big four counterparts in raising fixed rates this year, announcing a hike of up to 0.4 per cent for owner-occupiers and investors.
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INDUSTRY NEWS
CBA lifts fixed home loans 0.2 per cent
The Commonwealth Bank has increased interest rates on its fixed home loans by as much as 0.20 per cent.
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INDUSTRY NEWS
More than 1 million households have never had an RBA rate rise
After more than a decade of easy monetary policy from the RBA, new data shows that over 1.1 million households in Australia have never experienced an interest rate rise.
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INDUSTRY NEWS
Another lender weighs into the variable rate battle
Lenders might be raising their fixed interest rates, but variable rates continue to be slashed, with ANZ becoming the latest bank to cut its basic variable home loan.
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INDUSTRY NEWS
Is this the end of ultra-low fixed rates?
The era of ultra-low fixed rate loans could be over as interest rates on fixed rate loan products continue to increase.
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NEWS
Last Big Four bank lifts its interest rate
The National Australian Bank has become the last of the major lenders to lift its fixed rate loans, closing the door on big four rates under 2 per cent.
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INDUSTRY NEWS
Investors back in the market but owner-occupier lending falls
New investor loan commitments rose for the 12th consecutive month in October, while lending to owner-occupiers dropped by more than $800 million, according to new data.
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INDUSTRY NEWS
Big Four bank’s decision to scrap sub-2 per cent interest rates a ‘wise one’
The National Australia Bank (NAB) is the only big four bank offering an interest rate lower than 2 per cent, following Westpac’s decision to discontinue its introductory variable rate of 1.99 per cent.
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NEWS
How low can we go? Records slashed again as lowest home loan rate drops to 1.59 per cent
How low can we go? Home loan rates have dropped to a record low of 1.59 per cent, a further 0.20 per cent below the latest record.
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INDUSTRY NEWS
First-home buyers flee as property prices continue to surge
First home buyer numbers have plummeted over July as the housing affordability crisis continues, according to REIA president Adrian Kelly
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INDUSTRY NEWS
Westpac is the first major bank to cut their variable home loan rate to 1.99 per cent
Westpac has become the first big four bank to offer a variable home loan rate under 2 per cent, however the rate is only introductory.
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NEWS
More than 20 lenders offer cash back on home loans under two per cent
More than 20 Australian lenders have offered up to $5,000 cash back on home loan rates under two per cent.
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National
Family Home Guarantee and First Home Loan Deposit kicks off around Australia
Two highly anticipated government initiatives started 1 July, designed to provide Australians with a more secure future, but not everyone is guaranteed to be a winner. The Family Home Guarantee and First Home Loan Deposit scheme have each offered 10,000 new spots to eligible lower income Australians. But financial comparison hub RateCity warns consumers to check the fine print for…
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Elite Agent
Greater Bank claims title of Australia’s lowest home loan
It’s a race to the bottom that lenders are happy to be associated with and in great news for borrowers, Greater Bank has just claimed the new lowest home rate in Australia at 1.69 per cent, fixed for one year.
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Elite Agent
Low rates and high values drive home lending to all-time high
Record-low interest rates and record-high property values have helped drive home lending to an all-time high, according to newly released figures.
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Credit card debt lowest in years: RateCity
In the past year, Australians have wiped $7.80 billion in debt and taken the scissors to almost one million credit card accounts. However, the rate at which Australians are paying off debt and closing cards has slowed in October. Also, people gave their credit cards more of a workout in…
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Elite Agent
50 lenders now offer mortgages under 2 per cent
There are 50 lenders now offering a total of 126 home loan under 2 per cent. That's 40 per cent of the 124 lenders on the RateCity.com.au database with at least one home loan rate starting with a '1'. On the average $400,000 home loan, a rate under 2 per…
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NEWS
Banks plan to hike interest rates for COVID-impacted customers
Three of the country’s largest banks have conceded that they will increase interest rates for those financially distressed customers planning to make interest-only repayments after the mortgage holiday period ends. NAB, Commonwealth and Westpac have admitted that rates will be higher for those customers only paying interest on their home loans, as opposed to those who pay principal plus interest.…
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NEWS
Lenders slashing investor interest rates, despite extra scrutiny
New RateCity data shows that 47 mortgage lenders in Australia have reduced investor interest rates over the past two months. This is despite both the extra scrutiny lenders now undergo when applying for such a loan, and the RBA holding steady on the 0.25 per cent official cash rate. Of those 47 lenders, the average reduction was 0.27 per cent…
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NEWS
The race is on: home loan rates drop to 1.95%
It was only a fortnight ago that Loans.com.au broke the 2 per cent floor, offering introductory home loan rates of 1.99 per cent. Then Homestar Finance shaved 0.01 per cent off their variable rates, with a one-year fixed rate of 1.98 per cent. Now it’s Easy Street Financial stepping up, with an ongoing variable rate of 1.95 per cent. The…
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NEWS
Home loans rates drop even lower
After home loan rates dipped under 2% a week ago, with Loans.com.au offering introductory rates of 1.99%, Homestar Finance have pipped them as the lowest variable rate in Australia, with a one-year fixed rate of 1.98%. As Rate City reports, the loans do revert to an ongoing variable rate of 2.49 per cent, plus required a 20% deposit and upfront…
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NEWS
Home loan rates offered for under 2%
Loans.com.au are making a big play, offering introductory home loan rates of 1.99 per cent, which are touted as the lowest variable rate in Australia. They are also offering a two-year discounted variable rate of 2.09 per cent. These rates are available to “new customers who apply for an owner-occupier loan paying principal and interest repayments” with a 20 per…
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NEWS
New home loans slump to lowest number on record in May
As expected, new home loans have fallen sharply in response to the COVID-19 crisis, with the latest Australian Bureau of Statistics figures indicating the value of new loan commitments for housing dropped 11.6 per cent in May. Noting this was the largest fall in the history of the series, ABS Chief Economist Bruce Hockman, said…
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NEWS
Super and first home buyer schemes restart tomorrow but are they a good idea?
Two major government schemes restart tomorrow as the new financial year begins but comparison site RateCity.com.au is warning Australians to think before they jump in. From July 1, eligible Australians financially affected by COVID-19 will be able to access up to $10,000 extra from their superannuation. Round two of the First Home Loan Deposit Scheme…
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NEWS
Home loan rates hit new record low of 1.99%
Fixed home loan rates continue to tumble, with Bank of Us the first lender to offer the average Australian a fixed home loan rate under 2 per cent. Bank of Us has announced the record-breaking rate of 1.99 per cent, fixed for 1 to 3 years, for owner-occupiers paying principal and interest repayments with a…
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NEWS
Australia’s variable rate hits new record low
An online lender has become the new leader in the mortgage rate wars as variable home loan rates continue to drop, hitting a new record low. Freedom Lend is now offering a variable rate of 2.17 per cent, for new customers with a deposit of 30 per cent of more. RateCity.com.au Research Director Sally Tindall said home loan rates have…
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NEWS
Variable home loan rates tumble to record low
The home loan rate war continued to heat up this week as the lowest variable rate in Australia dropped to 2.19 per cent – and experts predict the competition will only intensify. The special from Reduce Home Loans is for owner-occupier variable customers with loans up to $850,000. Analysis from RateCity.com.au shows that at the end of March just 19…
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NEWS
New home lending takes a dive in pandemic
Home lending has plunged in the wake of COVID-19, with the value of home loans falling dramatically in April – and the worst could be yet to come. The Australian Bureau of Statistics lending indicator data released this week shows new lending dropped by $935.5 million (or 4.80 per cent) compared to March 2020, according to the seasonally adjusted data.…
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