News Archive for January 2022

(Sorry kids), but it’s back to school time! And after six weeks of school holidays, all you parents out there are probably rejoicing. But it’s not over yet. There’s still the dreaded annual back to school shop.

One of the quickest ways to gauge the property market is to check on auction numbers. While what happens at auction isn't definitive, it can give you a sense of how buyers and sellers are acting at a given point in time.

The Australian property market’s current run has fuelled a fresh round of FOMO. So much so that for many Australians, buying a home has become a more pressing goal than tying the knot.

If you want to save money towards something specific then maybe you should give sinking funds a try.

If you’re anything like me, you’ve felt pretty chuffed to be in a position to work from home on and off during the last two years of pandemic-induced uncertainty. From a health perspective, being able to reduce potential exposure to Covid has been very reassuring.

House prices have continued their meteoric rise in Australia, in particular around capital cities where the median house price has hit a record $1.066 million.

It might seem like the simplest option is to just defer to your current bank’s credit card offering. But it could cost you.

Renewables continued their rise in Australia’s energy market in 2021, providing almost one-third of the nation’s power needs with Victoria leading the way in solar and wind generation.

Whether you’ve got one little rascal heading back to school this year or a tribe of three moody teenagers, the cost of heading back to school can be a daunting one. And with one week left until those gates open, it’s important that you and your kids are ready (in a way that doesn’t break the bank of course).  So with that in mind, we’ve put together 4 top ways to cut down the cost of going back to school so that you might spend less and stash more in your family’s savings account.

For the fifth time in six months Westpac has bumped up a number of fixed home loan rates, this time by between five and 20 basis points.

Australians have taken their love of streaming services to new levels, with subscription video-on-demand platforms overtaking free-to-air television for the first time on record, data from the Social Research Centre has shown.

Starlink’s satellite broadband service, owned and operated by Elon Musk’s SpaceX, may be suffering from its own success as a number of customers have registered complaints over long deposit periods and an inability to contact customer service representatives.

Athena is an online lender with variable home loan rates as low as 6.39% p.a. (6.35% p.a. comparison rate*) on 70-80% loan-to-value ratio (LVR) loans.

Economists at Westpac believe the Reserve Bank of Australia will be forced to lift interest rates sooner than expected, amid growing inflationary pressures and improved labour market conditions.

Did 2021 change the way you use your credit card? From lockdown budgeting to Christmas spending, after such a big year, it could be time to reassess what’s in your wallet.

Set yourself some lofty savings goals for 2022? The start of the year is the perfect time for goal setting, but it’s also a great time to reassess your finances with fresh eyes because one great way to save more is by trimming down your existing costs.

Approaching the end of the holiday season means school, university and work are approaching for most people. Whether you’re looking to shop for some new supplies or upgrade some existing tech, we’ve put together a list of deals below to get you started.

Whether it's for an emergency fund, a home deposit or an upcoming vacation, saving money doesn’t have to be a boring task. There are many saving challenges you can try to reach your goal in an exciting manner.

As new year mantras either fade into the background or begin to flourish in late January, ME Bank has released research about young Australians’ financial goals.

Considering a home renovation in 2022? It's time to turn drab to fab! Within your budget of course.So whether the holidays got you thinking about revamping your bathroom, wanting to add a granny flat to your property or ready to start a full house reno, there are a bunch of low rate personal loan options that could help you cover the cost. When it comes to choosing the right renovation loan for your 2022 project (and budget), there are a few things to consider like interest rates, fees and features. For example, right now in the Mozo database the current average unsecured loan variable rate sits at 9.53% and the secured loan variable rate is a lower 7.57%. It’s important when weighing up your options that you look for a loan that offers a lower rate. And where can you find such loans? We’ve got you covered! Here are some top low rate renovation loan options that are jam-packed with handy features that could help you pay less and/or pay down your debt quicker!

There have been plenty of reports on the rising cost of used cars over the last year, and it’s looking like the trend may persist a little longer.

Researchers from RMIT University in Melbourne have created a process for heavy industries to capture carbon dioxide gas and convert it back to solid carbon, helping to limit emissions amongst the energy-intensive production processes.

With a new year and a new financially conscious you, it might be time to finally set up that budget you’ve been thinking about but never put into action so you can save up for something big in 2022.

There are plenty of reasons why international travel might not be your top priority right now. Travelling with the Omicron variant in the mix may put you off, and then there are the standard financial, lifestyle and work barriers that might impede you organising a trip.

For most Australians, taking out a home loan will be the biggest financial decision they can expect to make. And as property prices rise over time, homebuyers must borrow more and more to enter the housing market, and save up more and more for that critical first home loan deposit.

Something old, something new, something borrowed and something blue …who doesn’t love wedding traditions, right? We definitely do!

We're all about resolutions as the year starts, aren't we?

Online lender Athena has started 2022 with a bang by dropping a number of its variable home loan rates by between 10 and 30 basis points.

Australia’s property market has continued to soar throughout periods of lockdown, with the latest CoreLogic report finding that the three months to September 2021 saw the highest level of profitability in real estate for more than a decade.

Australia’s strong housing price increases can be linked to the likelihood of a couple having children, says a new University of Sydney study.

The latest COVID-19 variant of concern identified by the World Health Organisation is omicron and its high rate of transmissibility has been a leading factor in the unprecedented outbreaks. Despite this, Australians are still able to travel interstate and overseas, albeit with some conditions.

With borders finally open again, many Australians will be overjoyed at the prospect of being able to plan a domestic or international travel adventure for 2022.

Fixed rate home loans surged in popularity in 2021 as Aussie borrowers raced to lock in at record low rates. While many lenders have already started pushing fixed rates up from last year’s record lows, there are still a handful of incredibly low fixed rate deals on the market right now for borrowers who are prepared to act fast.The Reserve Bank convenes its first meeting of the new year in early February, and while the official interest rate isn’t expected to rise immediately, there are growing predictions from the nation’s economists that it might rise as soon as late 2022.For borrowers who haven’t yet locked in and like the idea of doing so to provide peace of mind against future rate rises, the Mozo Editors have rounded up some of the top fixed rate home loans currently on the market under 2.00%. But be quick, as these super low deals won’t last for much longer….

The Australian Energy Regulator (AER) is facing calls to prioritise maintenance on ageing power poles and wires to prevent future bushfires that put both workers and the community at risk.

Maximising your time off from work using annual leave is something of an art-form in Australia. But making the most of it requires a bit of thinking ahead.

All in this week’s best banking news recap: editor’s pick.

Did someone say “Disney movie marathon”? Or perhaps a binge-fest of Hannah Montana, That’s So Raven or any other classic Disney Channel show from the noughties?

The lead up to Christmas 2021 saw a record-breaking $69 billion card spend, but with the recent Omicron outbreak, can Australians afford to pay it back?

Over the pandemic used car prices have skyrocketed across Australia. So what does that mean for 2022? According to new data from Allianz, 85% of Australians are looking to the used car market to save money because they can’t afford a new car. However, as per prices right now, the second hand vehicle market could be a hard egg to crack as well. In fact, analysis from vehicle comparison site Carsguide found that used car prices across websites like Gumtree, CarsGuide and Autotrader have gone up significantly over the past year. In December of last year, it found that:

In the last two years there has been a global microchip scarcity that has affected the car industry. It has led to a supply shortage of new cars and rising prices of used cars.

There’s nothing quite like the fresh start of a new year. A lot can happen in 365 days. Will you fall in love? Join the circus? Make it on the Forbes billionaires list? You’ll just have to wait and see.

With interest rate hikes weighing down on borrowers, it’s no wonder people are looking for ways to get their repayments under control. One way of dealing with this is debt consolidation.

If you’re looking to buy or build an environmentally friendly home, chances are you could qualify for a green home loan.

Personal loans are a popular choice among Australians who want to pay for home upgrades and other large-ticket items. With personal loan rates at record lows, they are also handy tools for consolidating and paying down debt.

Last year was a big one for Australians switching their home loans.

Finding the right home loan could mean the difference between tens of thousands of dollars in interest saved over the life of a loan, but Aussie borrowers can be forgiven for finding it hard to pick the best option given the mountain of different lenders and rates available.

After reaching some of the lowest points recorded in years during 2021, interest rates on fixed home loans have started rising across the board.

Looking to save money in 2022? Maybe it is time for you to refinance your mortgage. Refinancing your loan can be a great way to save money and make your budget breathe a bit easier.

Is your Christmas spending dragging you down like a ball and chain as you say goodbye to holidays? Well, it’s back to reality which means it’s time to kick your debt out of your life! And that’s where a balance transfer credit card could be your golden ticket. Right now in the Mozo database over 35 credit card providers offer one or more balance transfer offers. A balance transfer is where customers can transfer their current credit card debt over to a new card and pay it off at a lower interest rate or completely interest-free. The catch is, these offers don’t last forever. Some offers have terms that are a few months while others can be a few years, it all depends on what suits you and your debt. So with that in mind, there are some golden rules to follow when it comes to choosing the right balance transfer for your Christmas debt. Read on and find out how to find the right offer to help you wipe your credit card balance clean this year …

2022 is shaping up as the year of the online lender, with record low rates driving borrowers away from the big banks and a whopping six in ten borrowers in Australia now considering online lenders instead.

Still figuring out your 2022 New Year’s resolution? We’ve got you covered when it comes to your finances! If stashing more cash is on your list of goals this year, you may be pleased to know that even small changes to your spending might save you over $1,000 in a year. Plus, if you commit to a few financial resolutions you could see even more money in your wallet or straight to your savings account. So without further ado, here’s Mozo’s 7 money-saving New Year’s resolutions for 2022 where we’ve crunched the numbers to find out how much you could potentially save this year:

Online lenders are back with a roar, taking on the banks with competitive low rates and responding to consumer demand for faster, more efficient approval and funding processes for home loans, personal loans and even business loans.

Finding the best car insurance policy for your needs, at the right price, can be a tricky task. If you’re not a car insurance expert, even finding somewhere to start your research journey can be a challenge.

Thousands of Australians each year use mortgage brokers to refinance or get a new home loan, but did you know that some of the best value home loans on the market aren’t available through brokers?

If you are one of the 7.6 million Aussie immigrant population who sends money to friends and family on a regular basis, then you’re probably familiar with international money transfers (IMTs). But you don’t have to be an immigrant to send money overseas.

Are you thinking about buying a dog this year? If you are, it might be best to get your new furry friend sooner than later. Your wallet will thank you for it.

If saving money on your home loan in 2023 is what you’re after, then you've come to the right place. Discovering a great value home loan could mean the difference between tens of thousands of dollars saved in interest over the course of your loan, but in practice it can be hard to find the best option amongst the dozens of different lenders and rates on the market.

Interest rates are on the rise this month, but if you're looking to refinance and have built up some decent value in your property, there's still a way to secure a killer variable rate in return for a generous deposit or equity on your property.

Debt can be scary, there’s no doubt about that. But, with the right toolkit (and a little bit of self-discipline) 2024 could be the year you eliminate your personal debt by tightening the money purse now.

As we wave goodbye to the tumultuous year that was 2023 and welcome 2024 with open arms, it's the perfect time for a fresh start, especially in our financial lives.

It’s the start of the new year and what better time to put into practice some new money habits that could see you ditching debt for good or sending your savings skyrocketing.

These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, online lenders are emerging as real challengers to the big banks.

These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, online lenders are emerging as real challengers to the big banks.

With rising rates driving borrowers away from the big banks and a whopping six in ten borrowers in Australia now considering low cost loans from online lenders instead, 2023 could shape up to be the year of the online lender.

2022 is shaping up as the year of the online lender, with rising rates driving borrowers away from the big banks and a whopping six in ten borrowers in Australia now considering low cost loans from online lenders instead.

2023 is shaping up as the year of the online lender, with rising rates driving borrowers away from the big banks and a whopping six in ten borrowers in Australia now considering low cost loans from online lenders instead.

Aussie borrowers looking for lower rates, faster approval processes and flexible lending terms are deserting the big banks in earnest for more competitive lenders. But with so many different options available, which rival lenders really stand out from the pack?

Just as home loan rates are rising in the wake of the RBA's back-to-back rate hikes, popular digital bank UBank has bucked the trend and unveiled a stellar new range of home loans with seriously low rates.