Property Investment News, Tips, Tools, Strategies, Experiences, Case Studies, Outlooks
The Australia’s big four banks finally decided to pass on the Reserve Bank’s 0.25 point cut. ANZ move first, announcing yesterday on 08/12/2012 it would cut its standard variable home loan rate from 7.55 per cent to 7.30. Fellow Melbourne-based giant NAB followed quickly, dropping its standard rate to 7.22 per cent. Commonwealth fell into …
Continue reading “The big four banks pass on the Reserve Bank’s 0.25 point cut”
Although the government repeats its demands they pass on the interest rate cuts, none of the big four banks – ANZ Bank, Commonwealth Bank, National Australia Bank or Westpac – has revealed the results of their reviews of their interest rates almost two days after the RBA’s rate reduction on 06/12/2011. Australia’s big four commercial …
Continue reading “$5.6 million daily rip-off by the big four banks on mortgage”
6 December 2011, the RBA cut the cash rate by 25 basis points to 4.25 per cent. If passed along in full by the banks, this cut will save the average mortgage holder – with a $300,000, 25-year mortgage – about $47 a month. It seems that the central bank has now shifted its stance …
Continue reading “RBA cut cash rate by 25 basis points to 4.25 per cent”
Westpac has predicted that the Reserve Bank will cut the interest rate four times in 2012 to avoid hurting an economy that is already showing signs of contraction. According to Westpac chief economist Bill Evans, there will be a sequence of rate cuts beginning with 25 basis points in December 2011 and through 2012 totalling 100 basis …
Continue reading “Property market will be hot again in 2012”