Home Loans & Mortgages

When the RBA lifted interest rates in November last year I said at the time that it was one rate rise too many. The RBA was at the time focused more on getting Interest rates to “normal levels”, when we are not in normal times Since then many people have agreed with me, including members [...]

Homes for sale are sticking in the market longer, and homeowners are either removing their homes from the market, multi-listing the property with many real estate agents or having to lower their price expectations.
This is affecting new home sales as new home hopefuls that cannot sell, are having to shelve home building plans.

NAB and Aussie Home Loans are the latest lenders to join the rush to cut rates, following ANZ’s lead.

The Reserve Bank of Australia Board meets today to decide the fate of homeowners home loan rates, and whether to raise interest rates Our tip is that home loanrates will stay as is. The RBA will not raise the official cash rate till the picture of the Australian and World Economies becomes clearer. Sudden collapse [...]

Australia’s banks have been charging over the top interest rates with the excuse that they are risky. That’s one thing.
Then when the official interest rates were reduced, they did not reduce these high rates on credit cards. [The rate difference will be good for our mega profits. Thanks RBA for that say the banks.]
On top of that they have been slugging the poor consumer extra fees for going over their credit limit on their credit card. But wasn’t that the banks fault in allowing that transaction, and isn’t that the banks’ excuse for the high credit card rate in the first place?