Mozo Money Moves: Rates and unemployment hold steady as markets await the quarterly CPI release
Welcome back to Mozo Money Moves, your weekly snapshot of the latest banking news and interest rate moves in personal finance.
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Mozo Money Moves: Expert Predictions for 2024 and the new RBA meeting schedule
Welcome to the first edition of Mozo Money Moves for 2024. This weekly snapshot rounds up the latest in banking and interest rate news, sharing any key banking and rate changes in personal finance.
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What will home loan interest rates do in 2024?
The last two years have been chaotic ones for home loan interest rates. Between May 2022 and November 2023, the official cash rate jumped a staggering 4.25%, bringing average home loan rates up by almost the same amount in the Mozo database.
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Home loan interest rates hike faster than savings account rates
Banks may have some favouritism regarding which interest rates they hike, according to the latest analysis from Mozo.
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Home loan interest rates now hitting 9% – time to switch?
Home loan pain is reaching a fever pitch following the November RBA rate hike. Out of all the mortgage lenders that have increased their interest rates, Mozo has recorded 7 in our database whose standard variable rates (SVRs) are now over 9%. The rest mostly sit between 6% and 8%.
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Banks quietly cut savings account interest rates in October
Savings account interest rates took a tumble in October, continuing the trend of quiet cuts we saw in September.
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Interest rate war is over as lenders make out-of-cycle rate hikes
The last two months have seen a pause in the Reserve Bank of Australia’s rate-tightening cycle. With the cash rate held at 4.10%, lenders haven’t faced additional pressure to hike interest rates on their home loans – bringing some relief to mortgage payments. Or so we thought.
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Which banks have made interest rate moves this week?
Following the hike in cash rate by the RBA to 3.35%, banks have begun to raise their own interest rates for both savers and home loan borrowers alike.
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Cost of living is still up, so let’s break down what’s going on
We find ourselves in this ongoing state of high inflation in the world, which means everything is more expensive than it previously was.
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10 money topics to tune up on in 2023
Costly groceries. Larger energy bills. Higher home loan rates. It can all add up!But the new year brings a chance to reset your money matters. Yes, it's time to park the financial woes and start some good habits! So to help, the following list offers resources about all of our most pressing money queries, from understanding interest rates to bringing down energy costs.
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