Fixed rate hike frenzy: CBA pulls the pin on rates under 2 per cent

It appears the banks are racing each other to raise fixed rates with CBA now hiking for the second time in just over three weeks.

Investors come up trumps as owner-occupier lending drops off

The latest ABS statistics show owner-occupier lending has dropped, while investor lending has climbed to its highest level since April 2015.

How the new 3% mortgage stress test will affect home buyers from November

New APRA home loan rules will kick in from November, which will limit the amount people can borrow from the bank. However, potential buyers with pre-approval and buyers mid-settlement will still have their mortgages stress-tested under the old rules.

NAB the latest bank to cut savings account rates

Australia’s third largest bank, NAB, has today cut savings rates by 0.05 per cent, following similar moves by CBA, ANZ and Westpac.

Home loan hikes continue as ANZ joins CBA and Westpac raising fixed rates

The fixed home loan rate hikes keep coming with ANZ today following the lead of CBA and Westpac by raising rates.

Westpac launches 0% interest credit card to take on the buy now, pay later sector

Westpac has announced it’s launching a no interest credit card, similar to those launched by big bank competitors, CBA and NAB last year.

New home loan stress test – how much less Australians will be able to borrow

The maximum amount Australians can borrow from the bank to buy a property is set to drop, as APRA tightens lending rules. Banks need to check if people can repay their loan at 3% more than their current interest rate, or the ‘floor’ rate set by the bank – whichever is higher.

Lockdown puts the brakes on new home lending but mortgage sizes blowout

Analysis of the latest ABS data by RateCity.com.au shows the average new loan in NSW and Victoria has risen by more than $100,000 in just a year.

How APRA caps could impact how much Australians can borrow

Consumer advocate RateCity.com.au welcomes news APRA is considering changes to address the increasing risk in Australia’s home lending market.

Westpac cuts variable intro rate to 1.99% but hikes fixed rates

Westpac has today become the first big four bank to offer a variable home loan rate under 2 per cent, however the rate is only introductory.