Laine Gordon

COVID-affected customers should receive rate cuts not rate hikes: RateCity

From September, homeowners on a deferral who can’t resume their repayments can potentially extend the pause by an extra four months or switch to interest-only repayments.

Home loan market shows signs of life as variable rates hit 1.95%

New home lending has partially recovered from its record drop last month according to ABS figures released today. It comes as home loan rates keep on tumbling, with a new lowest ongoing variable rate of 1.95 per cent now on the market.

Borrowers rush to refinance as loyalty tax bites

The Reserve Bank is expected to leave the cash rate on hold at 0.25 per cent when it meets this afternoon. But a new survey from RateCity.com.au found 43 per cent of home loan borrowers are looking to refinance in light of COVID-19 and record low rates.

Home loans hit new record low of 1.98%

Homestar Finance has today claimed the title of the lowest fixed rate on the market for new home buyers and refinancers, sitting at 1.98%.

Game on as variable rates drop to 1.99 per cent

The home loan war is heating up, with Loans.com.au offering an introductory home loan rate of just 1.99 per cent.

Record number of Aussies refinance as new home lending plummets

Today’s figures from the ABS show new home lending plunged $2.15 billion in May, the biggest monthly drop ever recorded.

Westpac steps up for young Australians as CBA cuts intro savings rates

Australia’s second largest bank, Westpac, has today launched a new ongoing savings rate of 3 per cent for Australians aged 18 to 29 years.

Banks extend mortgage deferrals, but what’s the cost?

Australian banks have today announced that they will allow mortgage holders in severe financial hardship to extend their mortgage repayment pause by up to four months.

Australians wipe a record $1.64 billion off credit card debts in May

New figures released today from the RBA show Australians wiped $1.64 billion off credit card debt accruing interest in May, the biggest monthly drop on record.

COVID-19 rewards borrowers, but savers feel the pain

The Reserve Bank is expected to leave the cash rate on hold at 0.25 per cent when it meets this afternoon. But RateCity data shows home loan and deposit rates have continued to tumble in the past month.