It is the prospect of interest rate rises that pose the greatest danger to first home buyers, according to one finance expert who believes that current levels of housing affordability are actually not that severe. House prices today are relatively affordable compared to the 1990s, Jamie Alcock, associate professor in the University of Sydney Business […]
Westpac has followed National Australia Bank’s lead and hiked home loan interest rates for both owner occupiers and property investors, Fairfax Media has reported. The major bank announced it would increase rates for owner occupiers by 0.03 percentage points to 5.32% for customers making principal and interest repayments. For owner occupiers making just interest payments, their […]
Digital? When it comes to applying for a mortgage, 76% of Gen Y professionals want to have a face-to-face conversation with a broker or lender. A new report by professional services firm KPMG, entitled Banking on the Future, surveyed over 1,400 professionals in Gen Y (defined as being between 18 and 30 years old). Despite […]
The RBA has opted to leave the official cash rate on hold at 1.5%. At its board meeting today the Reserve Bank of Australia decided to leave the official cash rate unchanged. As widely predicted, the RBA has kept rates on hold as it continues to work in unison with the regulators to stem concerns around […]
Is your credit card rewards program still worth the money? CREDIT card reward programs are being crunched by rule changes and consumers are being urged to check whether they are still worth the money. ANZ’s recent move to scrap its American Express companion cards and reduce the benefits of its card rewards programs is likely […]