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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Interest Rates On Hold For June 2016

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As expected the Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 1.75%. The economy has shown some signs of growth and it is expected that inflation is tracking to exceptions.

Although the economy is showing positive signs, most economists are predicting another rate cut in August.

 

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 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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Lenders Passing on the 0.25% Rate Cut for May 2016

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Soon after the Reserve Bank of Australia announced they will reduce the official cash rate from 2.00% to 1.75%, the major banks and many other lenders have decided to pass on the full interest rate cut of 0.25%.

Interestingly, NAB were the first to make the announcement to reduced their variable home loan and investment loan  interest rates by 0.25% while Westpac, CBA and ANZ were quick to follow.

Other lenders such as  St George, Bank of Melbourne, Bank SA, and BOQ also reduced their rates by the prescribed amount.

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 -0.20% 30th May 2016
AMP -0.20% 23rd May 2016
ANZ -0.19% 13th May 2016
Bank of Melbourne -0.25% 23rd May 2016
Bank of Queensland -0.25% 18th May 2016
BankWest -0.20% 20th May 2016
Citibank No Announcement Yet
Commonwealth Bank -0.25% 20th May 2016
ING Direct Bank -0.25% 20th May 2016
ME Bank -0.25% 16th May 2016
Heritage Bank -0.20% 23rd May 2016
NAB -0.25% 16th May 2016
St George Bank -0.25% 23rd May 2016
Suncorp Bank -0.25% 25th May 2016
Westpac -0.25% 23rd May 2016

 

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 down by 0.25% – May 2016

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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 1.75% at 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.

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Interest Rates Remain Stable for March

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The Reserve Bank of Australia has today announced that it has decided to keep the cash rate on hold at 2% for the 11th straight month. Some economists are expecting variable interest rates to fall in the upcoming year with the earliest rate relief as early as May.

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 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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Suncorp Bank Special Offers

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Suncorp Bank from Wednesday 13 January they are offering the following for New Home Package Plus offers;

  • – discounts of 1.55% p.a. on Standard Variable loans over the life of the loan, available for owner occupied and investment lending
  • – 0.35% p.a. discount on 3 Year Fixed Rate loans, also available for owner occupied and investment lending.
  • – waiving the Home Package Plus annual package fee for the first year (normally $375) for new Home Package Plus customers taking out new lending of at least $150,000

For more information contact us to take advantage of this offer.

Follow the link to compare home loans from these lenders and the Australian mortgage market.

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