More lenders drop home loan rates below 3 per cent

Several lenders announced cuts to their home loan rates last week, with the number of lenders offering rates below 3 per cent growing. ANZ cut home loan and deposit rates. On the home loan front, for borrowers with loan-to-valuation ratios…

Shoppers guide to controlling the Christmas spend

The holiday spending season is in full swing – a time when Australians should be using budgeting tools to gain a better insight into their spending and help manage debt. But a large number are missing out on this opportunity.…

Kavanagh

When asked what tools they use to do the household budget, 30 per cent of respondents to a recent survey said they didn’t do a budget at all. For many Australians the financial literacy message is not getting through. Canstar’s…

Compare the pair: offsets and redraws

Q:  I am in the market to buy my first home and I have been investigating home loan options. I am confused about the difference between offsets and redraws. They seem to be very similar. Is there a reason to…

Fixed rates lead the rate cuts

Mortgage interest rates continued to fall in August, even though there here has been no changes to the cash rate since the beginning of July. Comparison sites are reporting that the action is in fixed rates. Canstar reports that there…

The top TD rate is now under 2.5 per cent

After two months of term deposit rate adjustments, the average rates for key terms – three, six, nine and 12 months, and three and five years – are now in a narrow band between 1.79 per cent and 1.91 per…

Few lenders pass on the full rate cut

After two months of home loan interest rate moves only eight providers have passed on the full cuts to its customers. Athena, Bank First, Greater Bank, Homestar, Newcastle Permanent, RACQ Bank, The Capricornian, and UBank are the only lenders that…

Q&A

Q:  I have a home loan that eats up a lot of my income each month. I am trying to decide whether to keep making repayments at the current level or get some income back for the family budget. How…

Q&A

Q:  I am in the market to buy my first home and I have been investigating home loan options. I am confused about the difference between offsets and redraws. They seem to be very similar. Is there a reason to…

Variable home loan rates coming down

While there have been plenty of lenders dropping fixed rates in recent months, few have cut their variable rates. That changed last week when ANZ, AMP Bank and Bendigo and Adelaide Bank bucked the trend. ANZ cut the discount on…