Fuss-free savings accounts finally hit 5%

Savings rates with no monthly terms and conditions have hit a new highest ongoing rate of 5 per cent, with the launch of Unity Bank’s new MoneyMAX account.

ANZ halves the sweetener in the bank’s first step out of the cashback game

ANZ, the only big four bank still offering a cashback deal to refinancers, has announced it will be halving its offer from 26 August 2023.

CBA hikes variable rates but bucks trend and cuts fixed

Australia’s biggest home loan lender, CBA, has today increased select new customer variable rates, and cut 1- and 3-year fixed rates.

Credit card debt drops but still costing Australians $8.6 million a day

Australia’s total credit card bill attracting interest charges has dropped for the second time in nine months to a total of $17.73 billion.

Three of the big four banks believe the cash rate has peaked

Three of the big banks, CBA, Westpac and ANZ, believe the cash rate has already peaked at 4.10 per cent, with only NAB expecting one more hike later this year.

Refinancing continuing to drive home loan market

Borrowers in search of rate relief continue to switch lenders in droves, with $20.18 billion of loans refinanced in June – the third highest on record.

RBA holds cash rate at 4.10% for second consecutive month – what borrowers should do now

The Reserve Bank has today left the cash rate at 4.10 per cent, announcing a pause for the second meeting in a row, and third time this year.

RBA meeting finely balanced as household savings finally drop

Money in the bank from households has dropped for the first time since May 2021, suggesting Australians are starting to eat into their savings buffers as the cost of living continues to rise.

NAB increases basic variable rate for new customers with big deposits

Australia’s third largest home loan lender, NAB, has today increased the rate of its basic variable mortgage by 0.10 percentage points for new customers with deposits of 20 per cent or more.

NAB increases fixed rates for the second time in just over a week

NAB has today increased its fixed rates for owner-occupiers and investors by up to 0.20 percentage points, after an increase to the same rates last Friday.