Home Loan Interest Rate Rises

Home Loans

When the Reserve Bank of Australia increased cash rates by 0.25% on Melbourne Cup Day 2 November the Commonwealth Bank immediately responded by increasing its standard loan rates by 0.45% to the fury of Australians everywhere. ING Direct responded by immediately offering $1,000 to anyone who refinanced their mortgage through them before 30 June 2011 if you registerd by 30 November 2010. The remaining banks waited for the furore to die down before announcing that they too were increasing rates by greater than the RBA 0.25%. Here are the rate increases by the Big Four Banks and ING Direct.

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Citibank vs HSBC

Uncategorized

Two of the world’s largest banking groups, Citibank and HSBC, have Australian offshoots and specialise in cross border banking services. We compare what banking facilities they have to offer Aussies who are playing, home or away.

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Fixing your Home Loan

Home Loans

Are you worried about the increases in home loan mortgage rates? Are you considering switching to a fixed mortgage?

Given the recent trend of home loan interest rate rises, many home owners may be considering switching to a fixed rate home loan. Home owners are facing a similar situation as they did approaching the Federal elections in 2007. At that time the mortgage rates increased rapidly and many opted to switch to a fixed rate loan only to see the RBA rapidly cut rates due to the global financial crisis. Many borrowers who did fix were left with monthly repayments substantially higher than variable rate repayments. Now the RBA is trying to fight inflation, house pricing bubbles and bring rates up from historically low rates.

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Childrens Bank Account Review

Savings Accounts

Financial literacy is a very important issue for anyone and it pays to start young. Smart parents can start their children off on the right path by introducing their children to banking at an early age by signing up for a Childrens Bank Account. Most banks offer special bank accounts specifically for children. A few of them even have special websites to help the education process.

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