Australian Home Finance News

RBA board tipped to stay on holiday - Jan 06, 2009
Borrowers will have to wait until February for more mortgage relief with the central bank unlikely to interrupt their summer break and cut the cash rate on Tuesday, economists say...

Interest rates to keep falling in 2009 - Jan 05, 2009
Official interest rates have fallen to the lowest levels in decades and are expected to keep going in the same direction in 2009, as the Reserve Bank of Australia (RBA) tries to protect the nation from recession...

Christmas pause on interest rate cuts - Dec 17, 2008
Australian households are likely to be waiting at least a few months for further cuts to their mortgage repayments...

Fixed rate loan share hits record low - Dec 15, 2008
The share of fixed-rate home loans in the mortgage market has dropped to a record low as financial markets price in another aggressive interest rate cut in early 2009...

Mortgage stress down with rate cuts: HIA - Dec 15, 2008
A generous round of interest rate cuts from the Reserve Bank of Australia (RBA) since September has saved 350,000 households from mortgage stress, the nation's peak home building group says...

RBA January rate cut 'unlikely' - Dec 11, 2008
The Reserve Bank of Australia (RBA) has left open the possibility of a January interest rate cut should a big financial event occur but economists say the chances would be low...

RBA does not rule out January rate cut - Dec 10, 2008
Reserve Bank of Australia (RBA) governor Glenn Stevens has not ruled out cutting interest rates in January if circumstances warranted it...

First homebuyers storming back into market - Dec 09, 2008
First homebuyers are storming back into the residential property market after having steered clear of it for most of the year, according to mortgage broker AFG...

Non-bank lenders face grim future - Dec 09, 2008
NON-BANK lenders could be squeezed out of the mortgage business within 12 to 18 months if global credit markets remain frozen, consolidating the big banks' competitive advantage...

Over 43,000 losing out after rate cut - Dec 08, 2008
A massive interest rate cut this week has made more than 43,000 home borrowers Australia's biggest losers...

Mortgage firesales to be banned - Dec 04, 2008
Banks will be outlawed from conducting mortgage fire sales in Queensland in a move to protect struggling homeowners...

CBA, NAB pass on full rate cut - Dec 03, 2008
Commonwealth Bank of Australia Ltd and National Australia Bank Ltd have rushed to pass on the full one percentage point rate cut announced by the Reserve Bank of Australia...

More cuts and cash to come - Dec 03, 2008
THE Reserve Bank has not ruled out further rate cuts after it slashed 1 percentage point from borrowing costs yesterday, while the Government stands ready to rain more money on families...

Reserve set to cushion hurt with rate cut - Dec 02, 2008
IN A radical reversal of its long-standing interest rate policy, the Reserve Bank is expected to slash interest rates again today as it acts to cushion Australia from the global economic squeeze...

Borrowers could face $10,000 switch slug - Dec 01, 2008
Borrowers who fixed their mortgages earlier this year in the hope of beating rising interest rates could face a $10,000 fee if they want to take advantage of cheaper loans...

Reserve plans interest rate slash - Dec 01, 2008
Recent last-minute adjustments mean you can't be 100 per cent certain of these things but the greatest likelihood is that at its meeting tomorrow the Reserve Bank board will decide to cut the official interest rate by another 1 percentage point...

2.9 per cent - it's crazee, baby! - Nov 25, 2008
The official cash interest rate, targeted by the central bank in its monetary policy actions, is forecast to fall to its lowest level since early 1960 by Easter next year...

ANZ drops fixed loan rates by up to 1% - Nov 24, 2008
ANZ Banking Group (ANZ) has matched National Australia Bank's (NAB) cut to interest rates on fixed home loans, lowering the rates by up to 100 basis points...

Deposit? Tell 'em they're dreaming - Nov 19, 2008
THE "no deposit" home loan is about to become a thing of the past, as the big banks tighten the screws on new borrowers...

Reserve set to cut rates again - Nov 19, 2008
THE Reserve Bank board will cut at least three-quarters of a percentage point from interest rates when it meets again on December 2, and may even cut by a full point...

Fegan resigns as merger proceeds - Nov 18, 2008
The merger of the St George and Westpac Banking Groups drew a step closer today with the announcement that the schemes of arrangement had become effective and that St George’s chief executive, Paul Fegan, had resigned...

Govt buys mortgage-backed securities - Nov 17, 2008
The federal government has bought its first tranche of troubled residential mortgage-backed securities (RMBS), in a bid to boost competition in the non-bank home lending market...

CBA replaces Macquarie as key Aussie funding partner - Nov 17, 2008
The Commonwealth Bank of Australia (CBA) will replace Macquarie Bank as one of the key funding partners of Aussie Home Loans...

Centrebet picks RBA rates cuts - Nov 14, 2008
Online bookmaker Centrebet International Ltd says Australians can expect either a 50 basis point or 75 basis point official interest rate cut next month...

You call that a cut? - Nov 13, 2008
Home-loan borrowers who shop around can be rewarded with even more interest rate relief.

The size of the Reserve Bank's cut to interest rates last week of three-quarters of a percentage point caught everybody by surprise...

Loans reach new depths - Nov 13, 2008
Low-doc mortgages were sold to struggling consumers and now many are worse off, reports Tim Elliott.

In late 2005, Mandy, a 55-year-old postal worker from the NSW Central Coast, heard an advertisement on her radio for a company called Professional Funding Group...

Westpac revises down RBA rate forecast - Nov 13, 2008
Westpac Banking Corp has revised down its interest rate forecast.

It now sees the Reserve Bank of Australia (RBA) cash rate falling to a low of 3...

Aussie cuts home loan rate - Nov 11, 2008
Non-bank lender Aussie Home Loans has dropped its standard variable mortgage interest rate by a further 40 basis points, on top of a 50-basis-points cut before last week's change to the official cash rate...

Rams Home Loans drops mortgage ratea - Nov 10, 2008
Rams Home Loans (Rams) has dropped the interest rate on its standard variable home loan.

The interest rate on Rams' standard variable home loan has dropped 0...

St George cuts home loan rate to 7.74% - Nov 07, 2008
St George Bank Ltd has cut its standard variable mortgage interest rate by 62 basis points.

The rate will fall to 7...

Painted into a corner - Nov 06, 2008
Bank researcher Cannex has introduced a calculator to help consumers work out their exit costs.

A new consumer finance service will help borrowers work out what fees they are up for if they pay out their home loans early...

Major banks refuse to give full rate cut - Nov 06, 2008
WESTPAC and NAB have closed ranks with the Commonwealth Bank in refusing to pass on the full benefit of this week's surprise 0...

Commonwealth Bank cries poor - Nov 05, 2008
THE Commonwealth Bank last night sought to defend its controversial decision not to pass on to home-owners the full benefits of the Reserve Bank's surprise 0...

First home owner grant 'to boost demand' - Nov 04, 2008
The first home owner grant increase will help Australia's housing shortage and boost the market, the federal government says...

Rate cut looks a sure thing on Cup day - Nov 03, 2008
Punters have a near certainty on Melbourne Cup day with the Reserve Bank of Australia (RBA) tipped to cut a key interest rate by half a percentage point to kick a slowing local economy...

Rate cut scope limited: RBA deputy chief - Oct 31, 2008
A top Reserve Bank of Australia (RBA) policymaker says high inflation will limit the scope for future interest rate cuts...

Reverse mortgage market continues to grow - Oct 30, 2008
The Australian reverse mortgage market grew by 14 per cent in the six months to June 2008 (more than 27 per cent over the past 12 months) to be comprised of more than 36,000 loans with a total outstanding lending of $2...

Spike in first home-buyer mortgage enquiries - Oct 28, 2008
Government concessions and falling property prices have sparked a “huge spike” in interest from first home buyers, as measured by hits on the website of independent mortgage broker Loan Market Group...

Aussie cuts variable interest rate - Oct 27, 2008
Aussie Home Loans moved to lower its variable interest by 50 basis points - representing a saving of $125 a month on a $300,000 mortgage...

Housing affordability seeps higher: HIA - Oct 24, 2008
Housing affordability continued its slight improvement as lower house prices offset a rise in borrowing costs in the September quarter, a survey says...

Bank pledge could hit property - Oct 23, 2008
MORTGAGE finance companies are warning that the Federal Government's bank deposit guarantee will not only undermine their business, but could also weaken the property market...

High inflation won't quell rate cut talk - Oct 22, 2008
Inflation is expected to have nudged five per cent in figures out on Wednesday, but markets still expect another interest rate cut next month because of the global financial crisis...

Experts say PPI rise won't stop rate cut - Oct 21, 2008
A bigger than expected rise in producer prices will not stop the Reserve Bank of Australia (RBA) from cutting interest rates again before Christmas, economists say...

Lenders cutting variable interest rates - Oct 20, 2008
A price war in Australia's mortgage market is underway with National Australia Bank (NAB) following ANZ Banking Group (ANZ) and Aussie Home Loans in reducing its interest rates on home loans...

Rates tipped to fall to historic lows - Oct 17, 2008
Australian interest rates are tipped to fall to the lowest level since the aftermath of the September 2001 terror attacks as the RBA worries about a recession...

$1.5b boost to buy homes 'nonsense' - Oct 16, 2008
A prominent economist has rubbished the federal government's $1.5 billion boost for first home buyers announced on Tuesday...

ANZ drops fixed rates by up to 0.8% - Oct 16, 2008
ANZ Banking Group Ltd has cut the interest rates on fixed rate home loans by between 0.5 per cent and 0...

Home grant lift to boost sector: HIA - Oct 15, 2008
Australia's largest building association says measures announced by the federal government to boost the economy will support the housing market and increase activity...

CBA cuts fixed rates by up to 1.55% - Oct 15, 2008
Commonwealth Bank of Australia (CBA) has followed Westpac Banking Corporation and National Australia Bank Ltd (NAB) by cutting the interest rates on fixed rate home loans, by up to 1...

Counting down to the Big Four - Oct 15, 2008
AS BANKS overseas are plucked from financial ruin by the state, Australia's banks - at least the Big Four - appear to be saving themselves...

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