Christmas Interest Rates Remain On Hold at 1.5%

Decembers meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%.

We will have to wait until February 2018 until we receive another rate decision.

While the economists keep changing their mind on the economic future of the country, one this is for certain is that banks are forced to make lending for difficult for borrowers that seek interest only loans and property investment loans .

Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.

INTEREST RATE ANNOUNCEMENTS

No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

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RBA Leaves Interest Rates at 1.50%

Today’s 2nd May meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%. It seems interest rates are likely to remain stable for a little while yet.

We expect variable rates to increase for interest only loans and property investment loans through out the year as APRA would like to see this type of lending reduced to 30%.

Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.

INTEREST RATE ANNOUNCEMENTS

No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

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Commonwealth Bank To Increase Variable Loan Rates

 

Today the Commonwealth Bank announced that they will be increasing interest rates for its Variable Investment Home Loan and Viridian Line of Credit (VLOC) products effective Friday 16 December 2016.

Investment home loan rates will increase by 0.07% and VLOC will increase by 0.15%.

Please note they are not increasing interest rates for owner occupied home loans, business loans and fixed rates.

If you have any questions about these announcements, please feel free to contact us.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

We recommend that you view and compare current home loan and investment loans click the link below.

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Interest Rates On Hold For October at 1.5%

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The Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%. The economy has shown some signs of growth and it is expected that inflation is tracking to exceptions.

The new Reserve Bank Governor, Phillip Lowe, warned earlier this month that the government are required to play a bigger part in stimulating economic growth rather than rely on the RBA to reduce interest rates. This is a warning that unless something catastrophic happens, further reductions in interest rates are less likely in the future.

We expect that most lenders will leave their variable interest rates unchanged but we will continue to monitor lenders for rate changes outside the official rate. If there are any changes we will list them below.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit out commercial loans website.

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Banks Passing on the 0.25% Interest Rate Cut for August 2016

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UPDATE 3:15 pm: Commonwealth Bank (CBA) have only passed on 0.13% of the 0.25% rate cut. We expect other banks and lenders to follow their lead.

Not long after the Commonwealth Banks decision NAB, ANZ and Westpac have all reduced variable interest rates but not by the full amount. They are making their mortgage holders wait between 10 and 21 days from the date of the announcement before they pass on the rate cut.

We have observed in the past that when interest rates increase, the full 0.25% or more amount is passed onto consumers and they are increased within a week from the announcement.

Soon after the Reserve Bank of Australia announced they will reduce the official cash rate from 1.75% to 1.50%, the major banks and many other lenders have not made a decision as yet.

We will keep you updated on how much and  the major lenders are going to reduce their interest rates with our trusty interest rate table.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank -0.10%  29th August
AMP -0.10%  22nd August
ANZ -0.12%  12th August
Bank of Melbourne -0.13%  23rd August
Bank of Queensland -0.15%  31st August
BankWest -0.10%  23rd August
Citibank -0.15%  23rd August
Commonwealth Bank -0.13%  19th August
ING Direct Bank -0.12%  15th August
ME Bank -0.10%  23rd August
Heritage Bank -0.10%  24th August
NAB -0.10%  19th August
St George Bank -0.14%  23rd August
Suncorp Bank -0.10%  24th August
Westpac -0.14%  23rd August

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

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Interest Rates Stable For July 2016

Three days after the 2016 election The Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.75% . There is a very strong chance that  variable interest rates are likely to fall next month but we will have to wait and see.

We expect that most lenders will leave their variable interest rates unchanged but we will continue to monitor lenders for rate changes outside the official rate. We will also keep to up to date with commercial loan interest rates.

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

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