Melbourne Cup Day Interest Rates Stable at 1.50%

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On Melbourne Cup day the Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.5%.

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 our commercial loans website.

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Commercial Loan Update October 2016

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The past month has seen variable commercial property loan interest rates fall inline with the Reserve Bank of Australia’s decision to reduce interest rate in August. Fixed rates have also fallen but we see a slight increase in the 5 years fixed rate across the board.

Similarly, low doc commercial rates and business loans have followed a similar trend.

To view more information regarding commercial lending please visit our commercial loans website.

 

Lender Loan Type Security Type Interest Rate Max LVR
Bank Variable Residential Security 4.29% 80% Enquire
Bank Fixed Rates From Residential Security 4.29% 80% Enquire
Bank Variable Rates From Commercial Security 4.49% 60-75% Enquire
Bank Variable Rates to $1,000,000 Commercial Security 4.59% 60%-80% Enquire
Bank Commercial Equity Loan From Commercial Security 6.75% 60% to 75% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.60% 75% Enquire
Bank 2 Year Fixed Rate From Commercial Security 4.70% 75% Enquire
Bank 3 Year Fixed Rate From Commercial Security 4.70% 70-75% Enquire
Bank 5 Year Fixed Rate From Commercial Security 5.04% 75% Enquire

Please Note: that the above interest rates are only examples at the time of publication. Interest rates vary according to security type, property type, borrow amount against the property’s value, loan amount, location, use and purpose. Please speak to a qualified commercial lending specialist to see if you qualify for any of the interest rates shown above.

For more information regarding commercial lending please visit our commercial loans website.

Our advisers can source commercial finance from the big banks plus many other lenders  that cannot be found on the internet.

 

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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.

compare home laons

 

 

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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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August Interest Rate Cut to 1.5%

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After speculation that the Reserve Bank of Australia was going to reduce interest rates by 0.25% due to low inflation they have decided to reduce rates to 1.50% – a historic low.

It is expected that the major banks and other lenders will not pass on the full 0.25% rate cut but we will monitor their interest rate decisions for home loans, property investment loans, business loans and commercial property loans.

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.

compare home laons

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Commercial Loan Interest Rate Update July 2016

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The past month has seen variable commercial property loan interest rates have remained stable or have risen slightly by
0.10% for some products. Similarly, low doc commercial rates and business loans have followed a similar trend.

Commercial loan fixed rates have fallen across the board with an average drop of 0.20% for most fixed rate terms.

To view more information regarding commercial lending please visit our commercial loans website.

 

Lender Loan Type Security Type Interest Rate Max LVR
Bank Variable Residential Security 4.49% 80% Enquire
Bank Fixed Rates From Residential Security 4.49% 80% Enquire
Bank Variable Rates From Commercial Security 4.49% 60-75% Enquire
Bank Variable Rates to $1,000,000 Commercial Security 4.59% 60%-80% Enquire
Bank Commercial Equity Loan From Commercial Security 5.75% 60% to 75% Enquire
Bank 1 Year Fixed Rate From Commercial Security 4.60% 75% Enquire
Bank 2 Year Fixed Rate From Commercial Security 4.70% 75% Enquire
Bank 3 Year Fixed Rate From Commercial Security 4.90% 70-75% Enquire
Bank 5 Year Fixed Rate From Commercial Security 4.99% 75% Enquire

Please Note: that the above interest rates are only examples at the time of publication. Interest rates vary according to security type, property type, borrow amount against the property’s value, loan amount, location, use and purpose. Please speak to a qualified commercial lending specialist to see if you qualify for any of the interest rates shown above.

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