September 2017 Australian Interest Rates Remain Stable

Today’s October 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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Home Loan Repayment Calculator Update

Smart Search Finance has upgraded its Home Loan Repayment Calculator. It is easier to use,  device and cross browser compatible for different device types

The calculator calculates mortgage repayments for both home and investment loans. for both variable and fixed rate loans. It also calculates the comparison rate (the “real” interest rate paid over the life of the loan), total fees, total cost of loan, interest paid and many other features.

To use this calculator  click here.

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August Interest Rates Stable at 1.50%

 

It looks like interest rates are likely to remain stable for the remainder of 2017 as the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.50%.

It seems the major banks and other lenders have ended their interest rate increases for  interest only loans and property investment loans in a effort to reduce the number of these loans on their books.

In the 1st July many states have changed their stamp duty fees and first home buyers grants. You can calculate the cost of state charges and first home buyers concessions by using our stamp duty calculator.

Major 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, low doc finance, commercial loan interest rates for commercial property loans, car and equipment leasing  or looking for a better deal please visit our commercial loans website.

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June Commercial Loan Interest Rate Update

Over the last month we have seen commercial loan interest rates remain stable or fall by up to 30 basis points for some products.

Full doc variable commercial property loans have decreased by 24 points while 2 and 3 year rates have also fallen by up to 30 points for one lender. Other interest rates have remained stable in the last 30 days.

Low doc commercial loans have not changed over the last month unlike their full doc cousins.

Below is an outline of interest rates available from Smart Search Finance below. These are only indicative rates and may vary depending on security type and risks factors associated with the loan.

Commercial Loans – Full Doc Interest Rates (Indicative Only)

Lender Loan Type Security Type Interest Rate Max LVR  
Commercial Reference Rate from Variable 3.40% Up to 75% Enquire
Bank Variable Residential Security 4.20% 80% Enquire
Bank Fixed Rates From Residential Security 4.44% 80% Enquire
Bank Variable Rates From Commercial Security 4.20% 60-75% Enquire
Bank Lease Doc Variable Commercial Security 4.54% 60% to 80% Enquire
Bank Commercial Equity Loan From Commercial Security 5.75% 60% to 75% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.44% 75% Enquire
Bank 2 Year Fixed Rate From Commercial Security 4.70% 75% Enquire
Bank 3 Year Fixed Rate From Commercial Security 4.44% 70-75% Enquire
Bank 4 Year Fixed Rate From Commercial Security 5.10% 75% Enquire
Bank 5 Year Fixed Rate From Commercial Security 5.24% 75% Enquire

Low Doc Commercial Loans – Interest Rates (Indicative Only)

Lender Loan Type Security Type Interest Rate Max LVR  
Bank Low Doc Variable From Residential Security 5.39% to 5.99% 60% to 80% Enquire
Bank Low Doc Fixed Rate From Residential Security 4.79% 60% to 80% Enquire
Bank Lease Doc Variable Commercial Security 4.54% 60% to 80% Enquire
Non Bank No Doc Commercial Security 7.35% 60% to 80% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.79% 60% to 80% Enquire
Bank 2 Year Fixed Rate From Commercial Security 5.19% 60% to 80% Enquire
Bank 3 Year Fixed Rate From Commercial Security 5.04% 60% to 80% Enquire
Bank 5 Year Fixed Rate From Commercial Security 5.54% 60% to 80% Enquire

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

We have also updated our commercial loan calculator with more options to calculate the cost of finance.

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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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Banks and Lenders Increasing Variable Interest Rates

Following the big banks, many other lenders will start to increase their variable rate loans. We will keep you up to date on these changes.

 

Bank of Melbourne Variable Home Loan rates

Effective Monday 8 May 2017 Bank of Melbourne will beincreasing the below variable rates.

  • Owner Occupier Principal & Interest Home Loan variable rates by 0.03% to 5.25% per annum (comparison rate 5.42% per annum*)
  • Residential Investment Principal & Interest Home Loan variable rates by 0.31% to 5.78% per annum (comparison rate 5.95% per annum*)
  • Owner Occupier Interest Only Home Loan variable rates by 0.11% to 5.45% per annum (comparison rate 5.62% per annum*)
  • Residential Investment Interest Only Home Loan variable rates by 0.39% to 5.98% per annum (comparison rate 6.15% per annum*)
  • Portfolio loan variable rate by 0.39% to 6.10% per annum

St George Variable Home Loan rates

  • Variable home loan (owner occupier) rate will remain unchanged at 5.30% per annum for customers with principal and interest repayments;
  • Variable home loan (owner occupier) will increaseby 0.08% to 5.50% per annum for customers with interest only repayments1;
  • Variable residential investment property loan rate will increase by 0.23% to 5.78% per annum for customers with principal and interest repayments;
  • Variable residential investment property loan rate will increase by 0.31% to 5.98% per annum for customers with interest only repayments;

AMP Variable Home Loan rates

Effective 3 April 2017, variable interest rates for interest-only loans for existing customers will increase by 15 basis points for owner-occupied loans and 28 basis points for investment loans.

In addition, effective 31 March 2017 for new customers and 3 April 2017 for existing customers, owner occupied principal and interest variable rate loans will increase by 7 basis points. As a result, the AMP Bank Professional Pack owner occupied variable rate loan will increase to 3.92% p.a. for new customers for loans of $750,000 and above.

Adelaide Bank and Bendigo Bank Variable Home Loan rates

Bendigo Bank and Adelaide Bank decided to increase its residential investment variable interest rate by 0.25% p.a. to 6.01% p.a. Standard residential variable mortgage rates for owner-occupiers remain unchanged at 5.48% p.a. The change is effective as of 31 March 2017 for new and existing loans. A further decision was made to adjust the LVR cap on residential investor loans to 80% effective 27 March 2017.

will be increasing variable interest rates for investment loans (both existing and new customers) by 0.25% p.a. effective from 4 April 2017

ING Direct Increase Investment Variable Home Loan rates

ING Direct will be increasing variable interest rates for investment loans (both existing and new customers) by 0.25% p.a. effective from 4 April 2017

 

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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