Home Loans & Mortgages

Australian mortgaged homeowners, those renting and potential home buyers are in the main taking the two home loan interest rate rises that occurred earlier this year in their stride.  Nearly 60 percent of Australia’s homeowners with existing home mortgages said that the higher official interest rates have had little on their weekly budgets and spending habits, according [...]

Three of Australia’s “big four” banks have announced changes to home loan mortgage lending, credit card, business loans and deposit rates after Wednesday’s increase in official rates. ANZ is the latest to move, putting up its standard variable home loan interest rate to 8.32 per cent. The bank says it recognises the increase in official rates [...]

There has been a lot of talk over the last year about the major banks, headed by the Commonwealth Bank, looking for ways to jack up home loan interest rates independent of rate rises by the Reserve Bank of Australia. The major four banks in Australia all posted record profits last year, and want to continue this trend with increasing lending costs since the Government removed its guarantee given to major bank when the Global financial crisis hit.