News Archive for May 2022

May 2022

Top refinance tips and traps

Refinancing your home loan? Top refinancing tips and traps to know

Refinancing your home loan could save you tens of thousands of dollars over the life of the loan, and with interest rates on the rise, it’s little wonder why so many mortgage holders are looking to switch and save. But before you jump headlong into refinancing, there are some crucial expert tips to know for getting a great refinance deal.

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Westpac raises fixed rates by 80 bp

Westpac raises fixed home loan rates by up to 80 bp

Today, Westpac announced a series of hikes to its fixed rate Premier Advantage home loans, making it the first Big Four bank to lift fixed interests this month. The changes will affect both owner-occupier and investment products and vary between 80 basis points on 1-year terms and 30 for 5-year terms.

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How to save money on your grocery bill

How to save money on your grocery bill

With the cost of living pressures reaching boiling point for many Aussie families, and increases not showing any signs of slowing down; being wiser with the way you shop for your groceries could make a big difference to the amount you spend and how much you could save every week on the essentials.So, just how do families cut costs when all the groceries that have become necessities in many households start increasing? Here are a few tips that could help reign in the spending whilst still enjoying the things you’re used to when it comes to food and household essentials for the family home.

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Lenders unveil low rates for refinancers

Top lenders target refinancers with lower rates

Interest rates are rocketing upwards right now, but if you're looking to refinance and have built up some decent equity in your property, it's still possible to secure a lower home loan rate and cut your repayments back down to size.

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What does new labor government mean for australian childcare

What does a new Labor government mean for Australian childcare?

Australia has voted, and there is now a new Labor government. As childcare is both a critical resource and one of the largest expenses for so many Aussie families, a potential increase to the government childcare subsidy (CCS) was a key talking point in the election.

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Term deposits round up 2022

Top term deposit rates: October 2022

Term deposit rates are rising faster than high interest savings accounts rates right now, causing fixed deposit rates to hit highs not seen in years and fuelling a surge in consumer demand.

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Articles

11 awesome ways to save for overseas travel

Two years of lockdowns and closed borders have given many insatiable wanderlust. So if you find yourself scrolling holiday inspo or wistfully comparing travel insurance policies, let’s explore how to make your dream a reality.

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Can i use buy now pay later as a budgeting tool

Can I use Buy Now Pay Later as a budgeting tool?

Buy Now Pay Later (BNPL) services allow users to purchase a product or service at a shop or online and pay it back in interest free instalments. In addition to a form of payment, BNPL can also be used as a money management and budgeting tool.

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Tips for saving money on your energy bills this winter

How to keep your energy bill down this winter

As it gets cooler you may find yourself tempted to turn on a heater - probably the quickest and easiest way to heat your home. But using a heater takes a lot of electricity and if you use it too often, a nasty surprise might arrive on your next energy bill.

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How high will australian interest rates go in 2022

How high will Australian interest rates go in 2022?

Having delivered seven consecutive hikes since May, the Reserve Bank of Australia has well and truly unwound its pandemic-era interest rate cuts. But just how high is the central bank willing to go to contain inflation?

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Where you can save money on luggage for your next trip

Where you can save money on luggage for your next trip

If you are planning on taking a long awaited holiday this winter as international borders open, I am very jealous! If your luggage is looking a bit old and dusty after being out of use for the last couple of years, you might want to invest in a new suitcase or bag.

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How are term deposits rates doing

How are term deposits rates doing in April?

Recently, term deposit providers have turned away from higher interest rates for longer terms and are instead focusing on shorter term rates. So, if you’re looking to lock your cash up for a short while, then some of the current term deposit ratess on the market could be worth considering.

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How higher interest rates affect property prices

How do interest rates affect the property market?

Interest rates and property prices are closely related. This is because the cost of financing a home loan greatly impacts whether people can afford to buy property: more buyers, more competition, which means higher prices. While the Australian property market can be hard to predict, watching interest rates can give us a good idea of where it may be going.

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Refinancing demand expected to surge says nano

Refinancing demand expected to surge, says Nano

As low interest rate deals continue to disappear, demand for refinancing is expected to grow as many banks begin to repay the $188 billion borrowed through the Reserve Bank’s Term Fund Facility (TFF) and pass the fees on to their customers.

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How to get a home loan rate that starts with a 3

Can you still get a home loan rate starting with a ‘3’?

Rate rise pain is setting in for millions of Aussie home borrowers, and the Reserve Bank is forecast to continue raising rates in coming month. While the golden era of record low home loan rates is well and truly over, the good news is that it’s still possible to find super-low variable home loans under 4.00%.

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