Home Loan News

Aussies hunker down on debt in lockdown

Australians wiped a record $1.55 billion off debt accruing interest on their credit cards – the highest drop on record.

Australia's best home loans for May 2020

If you’re on a mortgage holiday that may soon be coming to an end, or have been putting off your dreams of home ownership, it could be worth looking at the best home loans of May 2020, as rated by RateCity's Real Time Ratings.

The real cost of a repayment pause, and how to minimise the fallout

CBA’s announcement today that customers who take a six-month repayment pause will be refunded interest-on-interest charges during this time will help families struggling to make ends meet.

Fixed rates plunge to new record low of 2.09 per cent

Banks have launched a fixed home loan war, with ING set to offer the country’s lowest home loan rate at just 2.09 per cent, fixed for two years, available today.

Which banks are freezing mortgages for COVID-19?

As well as offering support for Australian small business, several banks have offered home loan customers being affected by coronavirus the chance to take a mortgage holiday. This allows these affected mortgage holders to pause their loan repayments for a limited time to help relieve pressure on household budgets.

ANZ the only big four bank to cut variable rates for existing customers

The fourth largest lender ANZ has bucked the trend, announcing they will cut variable rates for both new and existing home loan customers by 0.15 per cent.

Banks welcome riskier lending back into the fold

The banks are increasingly taking the foot off the brake on home lending, particularly for ‘riskier’ loans, according to APRA’s quarterly banking figures out today.

Big bank home loan war as ANZ slashes fixed rates to 2.68%

Australia’s fourth largest lender, ANZ, has today slashed its fixed rate home loans by up to 0.86 per cent.

ANZ cuts interest rate floor

ANZ will decrease its interest rate floor for home loan serviceability assessments from 5.5 per cent to 5.25 per cent, effective 17 February. 

Banks ready themselves for rate cut but RBA expected to hold

Banks are trimming home loan and deposit rates despite the fact the RBA is likely to keep rates on hold tomorrow, signalling there may still be a cut on the cards later in 2020.