#Mortgage Repayments
Commonwealth Bank joins rate rise ranks
Commonwealth Bank has announced it will increase its standard variable home loan interest rate by 37 basis points, in a move that is set to send ripples through the banking industry. Westpac came under fire earlier this week for lifting their rates to almost double the increase the Reserve Bank stipulated, while National Australia Bank […]
NAB undercuts Westpac rate rise
National Australia Bank has sparked a home loan rate war by undercutting Westpac’s interest rate rise of 45 basis points earlier this week, keeping their interest rate rise in line with the Reserve Bank’s increase of 25 basis points. The interest rate rise will take NAB’s standard variable home loan rate to 6.49 percent, effective […]
Families struggle to pay rent in economic crisis
New reports have shown that Australian families are struggling to make rental payments in the financial crisis, with many being laid off from their jobs and evicted from their houses. More than 7600 people have lost their homes in NSW while a further 28,000 are struggling to meet repayments and are flocking to the NSW […]