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Rate Cuts

Big Banks Pass On Full Rate Cut

June 10, 2013 in Insider Tips, Latest News, Rate Cuts

 

500_375_site_1_rand_1607434991_aust_four_banks_1411_l_aapHOORAY !!!

Finally Australian home owners and their families can enjoy the full benefits of the Reserve Bank’s decision to reduce the Official Cash Rate with all four “Big Banks” passing on the full rate cut (0.25% p.a.) to their customers.

This great result was largely due to the pressure created by the “Smaller Banks” such as Macquarie Bank and ING who have passed on the full RBA rate reduction for the last 3 occasions.

WELL DONE SMALL BANKS !!!

 

Banks Drop Rates – How Much & When ?

May 9, 2013 in Insider Tips, Latest News, Rate Cuts

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Want To Know …

How much of the latest RBA Interest Rate cut your Bank will pass on ???

and

When will your Home Loan rate be reduced ???

Bank

Rate Cut

Effective Date

Adelaide Bank

0.25%  p.a.

May  27th
AMP

0.25%   p.a.

May   27th

ANZ

0.27% p.a.

May  27th
Bank of Melbourne

0.25% p.a.

May   17th

Bank of Queensland

0.25% p.a.

May   24th

BankWest

0.25% p.a.

May   20th

Bendigo

0.25%  p.a.

May  27th

Citibank

0.25%  p.a.

May  20th
Commonwealth

0.25% p.a.

May   13th

Heritage

0.25%  p.a.

May   16th

Homeside

0.25% p.a.

May   13th

ING

0.25% p.a.

May   17th

Macquarie

0.25% p.a.

May   20th

Me Bank (Members Equity)

0.25% p.a.

May   28th

RAMS

0.25% p.a.

May   13th

NAB

0.25% p.a.

May   13th

St George

0.25% p.a.

May   20th

Suncorp

0.25% p.a.

May   24th

The Rock Building  Society

0.25%  p.a.

 May   24th
Westpac

0.25% p.a.

May   20th

RBA CUTS RATES TO 2.75%

May 7, 2013 in Insider Tips, Latest News, Rate Cuts

 

Cutting Interest RatesThe Official Cash Rate has hit a record low 2.75% following the Reserve Bank’s decision to cut rates by a further 25 basis point in May 2013.

This decision is welcomed by Senior Economists & Business Leaders who have encouraged the RBA to assist the sectors within the Australian Economy which continue to struggle.

Borrowers will be able to celebrate further once their Banks confirm HOW MUCH of the rate cut they will pass on to customers and HOW FAST this will occur.

 

TO FIX … or NOT TO FIX ???

March 7, 2013 in Insider Tips, Latest News, Rate Cuts, Rate Rises

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As you would expect there is no One Right Answer” that can apply to everyone’s personal circumstances and strategies however there are several basic Pro’s and Con’s” and Handy Hints” that you need to know before you can determine the Right Decision for You”.

Fixed Interest Rates

Advantages

  1. Safe from rising interest rates
  2. Guaranteed loan repayments
  3. Record low rates

Disadvantages

  1. Additional repayments limited
  2. No / Limited Redraw
  3. Break Costs may apply if loan is repaid (Full or Part)

Variable Interest Rates

Advantages

  1. Save $$$ if Interest Rates fall
  2. Additional repayments –  No limits
  3. Redraw
  4. 100% Offset Account (if available)
  5. Can switch to a fixed interest rate at any time

Disadvantages

  1.  Interest Rates can rise

Handy Hints:

  1. Achieve the benefits of each rate type by selecting a combination of both (i.e. Part Fixed + Part Variable) 
  2. Select a Fixed Rate term that does not exceed your known plans (i.e. Avoid paying Break Fees)
  3. Seek “FREE” advice from an experienced Mortgage Specialist … One 5 minute chat can save you THOUSANDS $$$

 

All clients of DPF Mortgage Specialists are eligible to receive advice from our licenced Mortgage Specialists AT NO COST.

Simply click on “CONTACT US” or phone (07) 5527 4744

 

RBA … No Change Rates

March 7, 2013 in Insider Tips, Latest News, Rate Cuts, Rate Rises

 

House RatesBREAKING NEWS … No Change to Interest Rates

5th March 2013 –

Following today’s Board Meeting the Reserve Bank has elected to retain the Official Cash Rate at the current level (3%). This decision was widely anticipated considering the recent financial data confirming improvements in the domestic economy combined with an increasing sense of stability in the USA and European Economies.

The Reserve Bank is prepared to reduce rates further during 2013 if / when this action is required however the decision to keep rates on hold during March is supported by most Senior Economists.

 

Interest Rates on Hold

February 5, 2013 in Insider Tips, Latest News, Rate Cuts, Rate Rises

The Reserve Bank of Australia has confirmed the predictions of many senior economists by announcing that the Official Cash Rate will be retained at the current level of 3% throughout February 2013.

This announcement follows the publishing of positive reports from the Australian Real Estate and Building Industries + a renewed optimism in the US and European economies. With an Official Cash Rate of 3% the RBA retains the ability to reduce interest rates in the future if the Australian economy needs additional stimulus.

Banks Response to RBA Rate Cuts

December 4, 2012 in Insider Tips, Latest News, Rate Cuts

 

On the 4th of December the Reserve Bank of Australia announced that the Official Cash Rate would be reduced by 25 basis points (0.25%) to the lowest level since the peak of the Global Financial Crisis (3.00%).

Attached below is the summary of the Interest Rate cuts announced by the Banks following the RBA announcement (updated daily).  Read more

RBA Cuts Rates by 0.25%

December 4, 2012 in Insider Tips, Latest News, Rate Cuts

 

The Reserve Bank of Australia has provided an early Christmas present for Australian Families and the struggling Retail Industry by reducing the Official Cash Rate by 0.25 basis points to 3.00% The lower Interest Rates will provide borrowers with several options as to how to benefit most from these savings…

  1. Paying off their Home Loan in “Greater Chunks” by retaining their repayments at their current level whilst paying less in interest
  2. Use the savings to make extra payments to reduce their high interest Credit Card debts
  3. Replenish their savings which have taken a flogging throughout the GFC
  4. Spend, Spend, Spend … (This is what the Retail Industry is hoping for)

The one additional gift that borrowers will be hoping to receive this Christmas is for the Banks to pass on the 0.25%p.a. Interest Rate reduction in full.

 

Fixed vs Variable … Which is better ???

November 14, 2012 in Insider Tips, Latest News, Rate Cuts, Rate Rises

 

One of the most common questions asked by Home Loan customers is whether they would be better served with a Fixed Interest Rate or a Variable Interest Rate.

The first step to seeking an accurate answer to this question is to understand that each borrower / family have differing financial requirements and priorities thus there can be no “One Right Answer” that will apply to all.

Listed below is a brief summary of the Advantages & Disadvantages of Variable & Fixed Interest Rates plus several Insider Tips which may assist you to determine the best Home Loan structure to suit you and your family. Read more

How much of the Rate Cut did your Bank pass on ???

October 5, 2012 in Insider Tips, Latest News, Rate Cuts

 

Listed below are the Interest Rate cuts confirmed by the Banks following the recent 0.25% reduction in the Official Cash Rate by the Reserve Bank Of Australia. (Updated daily)

Read more