Credit card debt continues to defy RBA hikes

Credit card debt from Australian households attracting interest charges has fallen for the third month in a row, defying the RBA rate hikes.

RBA hikes shrink home buying budget by over $214K for average Aussie family

The average family’s maximum home buying budget has shrunk by an estimated $214,600 as a result of the last seven months of RBA rate rises.

New highest savings rate hits 4.30%

The highest ongoing savings rate has now hit 4.30 per cent, and it is available for all adults. ING has announced today it will hike its popular Savings Maximiser account by 0.25 percentage points to 4.30 per cent from next Tuesday, for balances up to $100,000.

Savers get a big boost as Westpac announces RBA response

Westpac has today confirmed it is passing on the 0.25 percentage point hike to its variable mortgages, however, it has upped the ante by announcing it will increase some savings rates by more than triple this.

CBA rewards savers as the bank announces its RBA response

Australia’s biggest bank, CBA, has followed NAB, by announcing it will pass on yesterday’s 0.25 percentage point RBA hike in full to its variable mortgage customers. Unlike NAB, CBA has also revealed what it will do for its savings customers, announcing rate hikes for each of its key savings accounts, in most cases by more than the 0.25 percentage point hike.

NAB to hike variable mortgages by RBA’s 0.25%, but leaves savers in the dark

NAB is the first of the big four banks to announce it is passing on today’s 0.25 percentage point RBA hike in full to its variable mortgage rates. However, NAB has chosen to keep its savings rate decision under wraps again this month.

Variable mortgage rates set to rise by 0.25% – what will banks do for savers?

The Reserve Bank has today increased the cash rate by 0.25 percentage points to 2.85 per cent, the highest level since the April 2013 RBA meeting.

Melbourne Cup rate hike near certainty, but size of hike still up for grabs

The Reserve Bank is set to fire off another cash rate hike tomorrow, with a 0.25 percentage point increase the most likely outcome.

RBA double hike back on the cards: Westpac

Westpac is the last of the big four banks to update its cash rate forecast on the back of yesterday’s higher than expected inflation figures, with the bank now predicting a 0.50 percentage point RBA hike on Tuesday.

Sydney house prices to plunge $175K by end of 2023

The value of the median-priced house in Sydney could drop by a further $175,087 by the end of next year, down to $1.10 million, based on new property price forecasts out today from NAB.