Changes to the official interest or "cash" rate can significantly impact your personal finances, especially if you have a home loan. At Mozo we track these movements closely and present the latest data we have to help borrowers navigate the market.
In bad news for savers, April term deposit rates in the 5% range are now rare for longer terms. This trend has accelerated following the RBA's recent decisions to reduce the cash rate, which is now feeding through to deposit products.
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With inflation showing signs of moderating, the Reserve Bank of Australia (RBA) has delivered its first rate cut down to 4.10% after holding the cash rate at 4.35% since November 2023.
Important update: As of 8 April 2024, Unloan products are now available to new borrowers, removing the previous refinance-only restriction.
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.
The Reserve Bank’s latest rate hike has galvanised Australia’s home borrowers into action, with thousands flocking to comparison sites to hunt down lower rate home loan deals.
Sky-high petrol prices have been a major cost of living stress for the past few years. Many Australians have been scrambling for ways to save, and member rewards programs have been a popular choice. After all, if your car insurance provider, grocery store, or local servo offers to shave dollars off your fuel ticket, then it's worth it...right?
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.
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.
We know it's fun to do mid-year shopping, but keeping tabs on spending is just as important. If you’re in your twenties and are new to full-time work, it can take a bit of getting used to tracking spending, paying bills and saving.
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.
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.
With housing affordability on many Aussies’ minds, it’s no surprise that Labor has proposed several housing policies to combat skyrocketing property prices.
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%.
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.
Ubank, an Australian direct bank owned by National Australia Bank (NAB), today unveiled a new look following their absorption of neobank 86 400.
You’re not imagining things. In this post-pandemic world, the list of non-Covid worries seems to be growing everyday.
All in this week’s best banking news recap: editor’s pick.
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.
It's that time of year again, tax season. This time around we also have a change of government, so many of you might be wondering what this will mean for your taxes.
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.
A new Labor government will see a few new proposals that may impact your finances.
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.
More Aussies are looking to buy electric vehicles and now many car loan lenders offer competitive rates.
New research from Commonwealth Bank has found that finding a cheaper internet offer is the main reason Australian’s switch telecommunications providers, but many people do little research when it comes to choosing which providers to go with.
Ever been so unpopular you straight up took yourself off the market? Turns out this was the case for a startling number of sellers this week, with nearly one in five Sydney properties withdrawn against a middling success rate of only 62%.
If you’re one of the many Aussies looking to make their finances green, then you might want to add B Corp certification to your checklist when deciding on a financial provider.
Home ownership rates have been falling for decades, especially among younger and poorer Australians. And the latest property boom has made the prospect of buying a home seem even more distant for many.
Well, inflation has officially reached our HECS-HELP debt and on June 1 it is expected to increase to 3.9% from 0.6%.
Dollarydoos don’t stretch as far as they used to, hey? With cost of living and inflation rapidly on the rise, grocery shopping has become one of 2022's biggest expenses.
The rising price of fuel has ignited a growing reluctance to commute to work, according to a survey of 1,000 Australian office workers by Citrix Systems, a work-from-anywhere software company.
With all the talk about the cost of living rising, I've been looking into the simple act of saving money. It's not something that comes as naturally in 2022, when the emphasis on spending feels well ingrained.
Last updated: 10:29 am 10 May 2022
If you’re looking to move Down Under chances are that you’ll need to open an Australian bank account.
Virgin Money has introduced a new mobile app feature to help Australians reach their savings goal quicker.
If you’ve got a subscription to Netflix , Stan , Amazon Prime , Binge or one of the other major streaming platforms, you’ll know the feeling of being overwhelmed by the endless range of content available. Stuck on what to watch next? Here is what the team at Mozo has been watching and enjoying lately.
The Reserve Bank of Australia has finally decided to bring down the monetary hammer, announcing that it will increase official interest rates from 0.1% to 0.35%.