Banks Raise Rates and Cut Jobs

November 13, 2015 by Finance Guy

Australian banks are raising interest rates and cutting jobs at a time when the RBA has left the official rate on hold. Recent changes in the Australian mortgage industry have forced banks to take measures to protect their profit growth.

The monthly mortgage payments of every day Australians has gone up because the banks want to keep the share price high and the investors happy. After all, it's the shareholders who can vote out the top executives from their high paid jobs!

Big Four All to Increase Variable Mortgage Rates

October 23, 2015 by Finance Guy

All four of the Australian major banks will increase their standard variable rates by the end of next month. This will give home loan customers a rate rise at a time when the RBA has left the official cash rate on hold.

If you have a variable mortgage with one of the Big Four, now is a great time to review your options and see what better deals are available. Save interest and get out of debt faster

Westpac to Increase Interest Rates

October 14, 2015 by Finance Guy

Westpac has announced that they will increase interest rates on all variable mortgages by 0.20%. The changes come into effect on November 20th. At this time, it is not known if other banks will follow suit. It seems to be a good time to start considering fixing a portion of our home loans

Australian Mortgage Industry in for Big Changes

August 05, 2015 by Finance Guy

Buying an investment property in Australia, has suddenly become more difficult. Several lenders have adjusted their policies toward residential investment mortgages, and all the changes have made it more difficult for borrowers.

We expect that the Australian mortgage industry is about to go through more changes, and all of them will make it more difficult to borrow for a home loan