It’s good news for home owners, home-seekers and renters alike with the Reserve Bank (RBA) announcing it would keep the cash rate on hold at a low of 1.5%.
Reserve Bank figures show the average home owner is 2.5 years ahead with their loan. If you’re not one of them, you need to read this.
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The Reserve Bank of Australia (RBA) eased interest rates in May, cutting the official cash rate to a record low of 1.75%. The cut was the RBA’s reaction to inflation falling below its target of 2-3%⁶, and with it the risk of deflation.
Morrison’s budget offered good outcomes for small businesses and middle-income earners, with potential tax savings for both these groups. But it was superannuation reform that dominated the 2016 federal budget.
The RBA surprised with a May ‘budget day’ rate cut, so what are banks and lenders doing about it?
Australia’s official cash rate is now 1.75%, a new historic low.
CEO of Aussie, James Symond, said many economists didn’t expect the rate cut, despite inflation falling by 0.2% in the March Quarter.
It’s every mortgage holder’s worst nightmare: what if interest rates return to the mid-teens, as we saw in the early nineties? The good news is that scenario is highly unlikely to occur, and there are steps you can take now to protect yourself if it does.
I keep seeing some really low interest rates advertised and wondered if it’s too soon to refinance? How often should I review my home loan?