Tag: Rba

Mortgage owners can breathe a sigh of relief as the Reserve Bank appears unlikely to further raise interest rates above 4.5 per cent in June.

Auction clearance rates have collapsed in three of Australia’s largest markets, after successive interest rate increases from the Reserve Bank. Listings were also down in Sydney, Melbourne and Adelaide.

The Greater Building Society is urging people to to beyond the ‘big 4’ when looking for a home loan deal, with building societies being significantly cheaper after the RBA rate increase this week.

Australia’s services sector is showing its first signs of recovery despite increases in interest rates, with the AiG Performance of Services Index recording growth in April.

The Reserve Bank of Australia (RBA) increased interest rates yesterday by 25 basis points percent to 4.5 percent as house prices in Western Australia’s Pilbara region continue to soar.

Following the Reserve Bank of Australia’s Board Meeting today, with a 25 basis point rise in official interest rates, National Australia Bank has confirmed a matching increase in rates on its home loans.

The Reserve Bank of Australia has again moved to increase interest rates, taking the official cash rate to 4.5 percent as the Australian economy faces inflation fears as it continues to recover.

Australia continues to struggle to manage its ‘two speed economy’ as the resource sector booms, while rising interest rates cripple the services sector.

Following the Reserve Bank of Australia (RBA) increasing official interest rates 25 basis points yesterday, National Australia Bank (NAB) confirmed its standard variable home loan interest rate would increase to almost 7 percent.

Despite todays rate rise and being saturated with financial advice, Australians are not prepared and no more financially savvy than before, according to a report by leading direct lender MyRate.com.au.