News archive for June 2017

June 2017

Energy price hikes: Sco Mo urges state governments to free up gas supply

Energy price hikes: Sco Mo urges state governments to free up gas supply

With household energy price rises as high as 20% or more set to hit New South Wales, Queensland South Australia and the Australian Capital Territory in a couple of days, the Federal Treasurer Scott Morrison has lifted the lid on the gas supply debate in the form of a new threat to State and Territory Governments.

Over 50s underprepared for tax time: St.George Bank

Over 50s underprepared for tax time: St.George Bank

Mature Australians are using high interest savings and term deposits for their cash savings but General Manager of St.George Retail, Ross Miller, says this age group need to consider where this ‘at call’ cash is best placed, particularly with the lead up to tax time and the upcoming changing superannuation rules.

Aussie car love affair costing $2.8 billion every week

Aussie car love affair costing $2.8 billion every week

Despite Aussies’ love affair with cars, keeping them on the road isn’t cheap. According to a new survey by RACV the average cost of running a car is setting drivers back $207.84 a week, a 1.6% increase from last year. With 13.8 million passenger vehicles registered on our roads this means our nation’s weekly car ownership bill sits at around $2.8 billion.

NAB the third major bank to move on home loan rates

NAB the third major bank to move on home loan rates

NAB has raised the standard variable interest rates attached to its interest only mortgages by 35 basis points, a move that will kick in for affected investors and owner occupier customers from June 30.

Bankwest adjusts home loan interest rates before EOFY

Bankwest adjusts home loan interest rates before EOFY

Bankwest has announced a number of changes to its home loan interest rates - mainly rate increases across interest-only loans, but with some good news for borrowers making principal and interest repayments.

Revealed: Aussie savings accounts fall lower than inflation

Revealed: Aussie savings accounts fall lower than inflation

A recent study from Mozo has revealed that Aussie savings are going backwards, with not a single saving account in Australia now providing an interest rate which keeps savings ahead of the current levels of inflation and tax.

Bank Australia named Australia’s Best Bank by Mozo experts

Bank Australia named Australia’s Best Bank by Mozo experts

The results are in for Mozo’s 2017 Australia’s Best Expert Choice Awards, revealing the financial providers offering customers the best value across a range of products, including home loans, savings accounts and credit cards.

The number one mortgage mistake

The number one mortgage mistake

Home loan loyalty is costing Australian mortgage holders a whopping $6 billion a year, according to new research from comparison site Mozo.com.au.

Is the Sydney property market starting to cool?

Is the Sydney property market starting to cool?

Auction results across the city over the Queen’s Birthday long weekend have provided even more evidence that the Sydney housing market is continuing to cool slightly from the soaring heights experienced at the end of 2016.

ANZ increases interest only home loan rates once again

ANZ increases interest only home loan rates once again

ANZ has today announced changes to its variable rate home loans, targeting borrowers on interest only loans with rate increases of 30 basis points. This follows similar rate hikes made by the big bank earlier in the year, which saw interest-only variable rates rise by up to 0.25%.

RBA interest rates steady at 1.50% for EOFY

RBA interest rates steady at 1.50% for EOFY

The Reserve Bank has opted to keep the official cash rate steady at 1.50% for the ninth month in a row as the 2016/17 financial year wraps up, and economists are expecting it to stay there for a while.

New rewards credit card bonus offers a mixed bag

New rewards credit card bonus offers a mixed bag

Rewards card value has been in steady decline for a while now, but recently, Mozo has noticed a number of new bonus point offers coming on the market that may entice shoppers to give rewards plastic a second chance.

eBay launches massive EOFY sales this June

eBay launches massive EOFY sales this June

Online shopping site eBay announced its Hump Month sales yesterday, featuring some of the biggest ever discounts site-wide, as it prepares for what it's expecting to be a bumper EOFY.

5 EOFY money deals you won't want to miss

5 EOFY money deals you won't want to miss

The end of financial year is quickly approaching, and savvy shoppers know that this is not just the time of year to get your taxes in order - it’s also the perfect chance to snag some great bargains!

5 EOFY money deals you won't want to miss

5 EOFY money deals you won't want to miss

The end of financial year is quickly approaching, and savvy shoppers know that this is not just the time of year to get your taxes in order - it’s also the perfect chance to snag some great bargains!

RBA interest rates in June: change a long-time coming

RBA interest rates in June: change a long-time coming

Rates are likely to remain on hold in June and for a long while to come, but a new record low cash rate isn’t entirely off the cards for the future, according to Mozo Data Manager Peter Marshall.

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