July Interest Rates Unchanged at 1.50%

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

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 . We have seen in the last few months that interest rates have risen and the amount you can borrow against the property has reduced from 80 to 90 percent depending on the lender.

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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ANZ and Commonwealth Bank Follow NAB and Westpac



Both ANZ Bank and Commonwealth Bank have followed NAB and Westpac to increase their variable rate loans. They cite regulatory pressure and funding costs to be the main reason for these interest rate increases

ANZ have made the following changes effective 31st March 2017;

  1. Owner occupies who pay principle and interest on their home loans – no change
  2. Standard Variable investment loans and Equity Manager loans increase by 0.25%
  3. Interest only loans for Standard Variable and Simplicity Plus  loans for owner occupied loans and investors increase by 0.20%
  4. Business loans increase by 0.08%

Commonwealth Bank have made the following changes to variable rate loans effective 8th May 2017:

  1. Owner Occupied home loans that pay Principal and Interest (P&I)  for Variable Rate Home Loans will increase by 0.03%  
  2. Investment home loans that pay Principal and Interest (P&I)  for Variable Rate Home Loans will increase by 0.24% 
  3. Interest Only interest rates for all Variable Rate Owner Occupied home loans by 0.25% and Investment Home Loans by 0.26%
  4. Viridian Line of Credit (VLOC) interest rates will increase by 0.26%  for both investment and personal purposes.

We expect other second tear banks and smaller lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement 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.

compare home laons

 

 

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Westpac Bank Follow NAB and Increase Variable Interest Rates

Similar to NAB, Westac have announced today that they will increase its variable interest rates for its home and investor loans effective from Friday 24th March.

Variable interest rates for owner occupier home loans will increase by 0.03%.

Variable interest rates for interest only home loans and business rate loans will increase by 0.08%.

Interest rates for residential investment loans will increase by 0.23% for principle and interest repayments and for interest only loans will increase by 0.28%.

We expect other lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement 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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NAB Increases Variable Interest Rates

Today NAB have announced that it will increase its variable interest rates for its home and investor loans effective from Friday 24th March.

Variable interest rates for owner occupier home loans and business rate loans will increase by 0.07%.

Interest rates for residential investment loans will increase by 0.25%.

We expect other lenders to follow and we will keep you up to date with any changes.

If you have any questions about this announcement 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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Variable Interest Rates On Hold For March

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Today’s March 7th meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%. We expect this to remain stable for the remainder of the year.

In the last months we have seen a number of lenders increasing some of their variable rate products. We have seen increases in interest only loans and property investment loans for new and existing borrowers. This is an attempt to slow down the housing boom by making it more expensive for property investors to make future purchases. However, money is so cheap at the moment that even the small rate rises is having very little effect.

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.

compare home laons

 

 

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