Several lenders have embarked on an aggressive campaign to become more competitive in the Home Loan market by further reducing their Standard Variable Interest Rates. These rate cuts range from 0.20%p.a. – 0.25%p.a. & are in addition to the recent 0.8%p.a. – 0.9% p.a. reduction received following the Reserve Bank’s 1%p.a. rate cut announced in early October 2008. Read more
Monthly Archives: October 2008
First Home Owner’s Grant increased
October 14, 2008 in Latest News
First Home Owners Grant increased up to$21,000.00Prime Minister Kevin Rudd announced today that the First Home Owner’s Grant would be increased from the current level of $7,000.00 to: Read more
Tips on surviving the financial storm
October 8, 2008 in Latest News
Don’t Panic: Tips on surviving the financial storm.
Shake your partner vigorously by the shoulders and scream: “For Gordon Gekko’s sake, don’t panic!”That’s step one to riding out the current global financial storm.Here are a few more practical suggestions culled from what the experts are saying: Read more
RBA Cuts Interest Rates by 1% p.a.
The Reserve Bank announced today a 100 basis point (1% p.a.)cut to the official cash rate.
The Federal Treasurer (Wayne Swan) has warned borrowers not to expect the Banks to pass on the full 1% p.a. interest rate cut due to the increase in the “Cost of Funds” on the international markets.
Westpac, CBA, ANZ and NAB have reacted swiftly to the RBA’s decision announcing the banks would pass on a 0.80% p.a. interest rate cut to their customers, whilst Rams has trumped the banks by announcing Rams customers would receive a 0.90% p.a. interest rate cut. Read more
