Soaring rates show no mercy
HIKES in home loan rates will not only exacerbate housing affordability, but add fuel to the fire that is the soaring rental market.
Budgeting
Bank lending will get tighter, warns RBA
THE Reserve Bank has warned that banks will make borrowing harder as part of the process of reining in excess growth in the economy.
Reverse lender ASF latest credit victim
REVERSE mortgage pioneer Australian Seniors Finance is the latest local lender to be caught out by the global liquidity crunch.
RBA may be ready to pause
AFTER 12 consecutive interest rate rises, the RBA is seeing signs of a slowdown in domestic spending, writes Scott Murdoch.
Banks to raise rates any day now
HOMEOWNERS are likely to feel the bite of higher mortgage repayments sooner rather than later, with three of the big banks already reviewing their…
Make savings accounts count
SAVINGS accounts sound simple but there are still several financial traps for the uneducated or uninterested.
Look around before switching loans
CHANGING lenders could soon be as easy as changing your socks, as banks start helping customers set up accounts with other providers.
Banks want access to ‘mum and dad’ savings
HIGHER borrowing costs due to the global credit crunch has made banks keener to get their hands on ¿mum and dad¿ deposits.
Credit rewards come at a price
CREDIT credit card rewards programs are still not worth it for casual spenders a new report says.
How to put a squeeze on the bankers
THE only way to beat the bank is to own it, or so the saying goes. We take a look at how you can make money out of banks.
Struggling banks a long term bet
IF you believe a week is a long time in politics, try the stock market for size, writes Anna Fenech.
Borrowers lose interest in 100pc home loans
ONE of Australia’s non-bank lenders has been forced to stop offering controversial 100 per cent home loans, and more are likely to follow.
Australia’s credit card bill tops $42b
AUSTRALIA’S credit card bill has continued to grow, hitting a record $42 billion, new figures show.
Banks downgraded in debt blowout
THERE’s been a rash of earnings downgrades for the banking sector, with predictions of a $1.4 billion blowout in bad debts in 2008.
What to look out for when switching loans
SWITCHING loans without doing your homework could end up costing you more in the long run. Here’s a checklist of what to look for.
Credit squeeze, rates outlook hit banks
A FUNDING squeeze and an unfavourable interest rate outlook are behind the repricing underway in the domestic banking sector.
Big banks bet on lower rates
BANKS and other money market players are betting that variable interest rates could begin to ease as early as next year
Move your money elsewhere
WAYNE Swan has fast-tracked a Treasury plan to make it easier to switch banks by reducing fees, amid growing anger at the banks’ haste to raise interest rates.
ANZ banking goes mobile
ANZ is set to jump ahead of its competitors by becoming the first bank in Australia to launch a mobile phone banking service
Speaking up in defence of banks
BANK bashing has become a popular pastime, with major banks lifting interest rates, but maybe it’s time we stop attacking such easy targets
Paying for brokers to get rich
AUSTRALIAN lenders pay among the highest commissions in the world to mortgage brokers, while passing on costs from the credit crisis to borrowers.
Nervous families refinance home loans
ANGRY families are exiting home loans at a dramatic rate as they face a possible second rate hike in a month.
$2 slug for using other ATMs
ANZ and Commonwealth Bank customers stung by home loan interest rises are now being hit $2 a pop for using other banks’ automatic teller machines.
Treasurer wants to axe exit fees
THE Rudd Government is considering outlawing exit fees on mortgages so that banks can no longer punish home owners who choose to switch to a better deal.
Tellers pressured to sell loans
AS families reel from fresh interest rate rises, bank workers are being forced to meet ambitious sales targets or miss out on performance payments.
Fixed rate mortgages more popular
RECENT interest rate hikes and the prospect of more to come have has seen the popularity of fixed rate mortgages take off, new figures suggest.
Housing loans changing shape
A THIRD of all home loans approved in December were for investment properties, with fixed rate loans popular, according to national mortgage broker AFG.
Rates rise a boon for banks
ANALYSTS are estimating that further rate rises outside the normal RBA cycle could add hundreds of millions to the 2008 bottom lines of leading banks.
Banks under pressure on rates
THE treasurer is urging banks to be mindful of increased cost pressures on families when considering lifting home loan interest rates
Lenders face rate hike pressure
THE major banks are under intense political pressure to put consumers first and stop raising rates on home loans and credit cards.
Original URL: https://www.news.com.au/finance/money/budgeting/page/72