Battle of the big banks: CBA cuts lowest variable rate following Westpac, NAB and ANZ

Australia’s largest bank cut its lowest variable rate by 0.10 per cent to 2.19 per cent, as the big bank battle to win over new customers continues.

Risky debt continues to rise: Almost 1 in 4 new mortgages have unsafe levels of debt

24.4 per cent of new mortgages had a debt-to-income ratio of six times or more, according to APRA’s latest quarterly ADI property exposure report.

Aussies turn their backs on fixed rates as Westpac hikes for the 3rd time this year

New ABS data shows the popularity of fixed rates has declined on the back of aggressive hikes from the banks.

RBA to hold this month: when will the next cash rate hike be?

The RBA is expected to leave the cash rate on hold this month, but Australians need to get ready for their mortgage repayments to rise.

Gap widens between Big 4 and low-cost lenders as ANZ hikes rates again

While fixed rates have lifted across the board, the big four banks have hiked more aggressively than many of the low-cost lenders.

ANZ scraps popular Breakfree home loan – find out how it affects you

In a major shake-up, ANZ has announced it will scrap its most popular mortgage– its package loan – impacting 350,000 existing customers.

Alarms bells ring as credit card debt rises for 2nd month in a row

Australia’s total credit card debt has risen for the second month in a row to $17.24 billion, according to new data released today from the RBA.

NAB the 3rd big four bank to hike fixed rates in 2022 – how high will they go?

NAB has raised its fixed rates by up to 0.20 per cent for owner-occupiers and investors following similar hikes from CBA yesterday and Westpac last month.

Rate hikes coming, with or without the RBA

The RBA is not expected to raise the cash rate this month, however, there is growing speculation the central bank will lift rates this year.

Westpac first big four bank to hike fixed rates in 2022

Westpac is the first big four bank to hike fixed rates in 2022 but certainly won’t be the last. We expect other banks to follow within days on the back of sharp increases to the cost of wholesale funding.