News Archive for July 2023

Comparing home loans can be tricky when you’re in the thick of it. After a while, many mortgages start to feel the same and the differences can be hard to spot. Which home loans offer the best value? Which lenders have your best interest at heart?

The Reserve Bank of Australia (RBA) is in charge of Australia’s monetary policy, meaning the central bank watches the economy for highs and lows and changes policy to smooth everything over.

The continued rising cost of living means expenses are piling up, which makes sticking to a budget and finding the small wins all the more important. You may feel personally victimised by your skyrocketing supermarket bill, but there are some things you can do to help reduce your spending and build up those savings even if you are already on a tight budget.

Young first-home buyers often enter the property market these days with the odds stacked against them: lunar home values, skyrocketing interest rates, and alien jargon. However, there’s an online lender in the space whose app aims to give you stellar home loans, straight up.

A classic saying most Aussies are likely to have heard is "I'll just claim it back on tax", but what do people mean when they say this and why should you take notice? Whether you are lodging your first tax return or your tenth, brushing up on your tax knowledge is always a good idea at the start of the new financial year.

It’s the night of all nights in the Australian TV and entertainment industry. Yep, you guessed it. The Logies are on this weekend (Sunday, the 30th of July 2023).

While your dream house might not be Barbie pink or feature a three level slide from the bedroom, it’s easy to get wrapped up in your wishlist when it comes to home renovations. Though you might have tamer goals than everyone’s favourite doll, there’s no reason your home shouldn’t be your own Dreamhouse.

Long gone are the days when you need to lodge a home loan application in person. Now, even mortgage management can be done in-app at the touch of your fingertips, thanks to light-year advances in mobile banking.

In an astonishing pivot, the Reserve Bank of Australia (RBA) made a quiet July by holding the official cash rate at 4.10%. Home loans cooled their interest rate rush somewhat, much to the relief of borrowers.

With Greta Gerwig’s Barbie movie tearing up the box office right now, we’ve had Barbie on the brain. From the ultimate Barbie shopping list to building your own Dreamhouse, there are plenty of ways to bring a bit of Barbie into your life, but the rising cost of living has left us with one major question: if we could really get to Barbieland, how much would it cost us?

International and Australian shares have trended upwards in the last 12 months according to SuperRatings, so Aussies who have been making investments in their superannuation fund may be receiving strong returns.

The RBA’s decision to pause rate hikes earlier this month has seen most lenders hold variable rate loans—or, in some cases, actually cut home loan rates. But banks have been a bit more cautious with fixed interest loans and, in some cases, have decided to lift rates.

Two is better than one, eh? With insurance premiums climbing, many Australian policyholders have tried to find cheaper insurance, whether it’s raising their excess, decreasing their coverage, or combining their policies.

Staying connected while overseas just got easier, folks! Starting this Friday, the 21st of July 2023, Tangerine customers will be able to enjoy bigger mobile data roaming allowances with longer durations while travelling internationally.

The future is here, folks! Optus is partnering up with Elon Musk’s satellite internet service provider, Starlink, to offer coverage to nearly 100% of Australia.

It’s July, folks! Which means two things: we’re more than halfway through the year, and everyone’s in Europe! On that note, here’s a checklist full of everything you’ll need to get through the month ahead.

Earlier this month the RBA put a hold on the rate hike cycle, much to the relief of many mortgage holders. With rates currently sitting at an average variable rate of 6.58%, and a general feeling that we’re coming closer to the end of the hike cycle, some borrowers might be wondering if there are any banks that have begun to cut their rates.

The latest data from property watchdog CoreLogic reveals home values across Australia fell -5.3% in the year to June 2023. This decline flows from the significant price plummet Australia experienced nationwide last year.

The Tooth Fairy rivals dentists, according to estimates by ToothShow, she collects more than two thousand teeth from Australian children each night. And while the fairy of the night has traditionally paid children cash for their teeth while they are sleeping, along with most of the country, recently she has been stepping up her game turning to digital payments.

A personal loan is credit you borrow to pay for something when you don’t have the money upfront to pay for an expense in full.

Over the last two months, NAB, Westpac, and Commonwealth Bank have all announced they will lower the home loan ‘stress test’ for select refinancers from the standard 3% to 1%. For eligible borrowers, this means instead of having to qualify for mortgage rates as high as 9%, they may only have to pass 7%.

The year certainly kicked off with a bang. Despite interest rates climbing to an eleven-year-high, property prices made an astonishing recovery after last year’s 8% fall. Mortgage holders refinanced billions worth of home loans while average rents surged at record rates. But now, halfway through the year, the economic tide shows signs of turning.

Thinking of getting on the road and driving to that beautiful Aussie destination that you have been waiting to explore this winter? Well, here is your sign!

Australia remains a landlord’s market, according to Domain. Its latest rental report revealed an eye-watering wave of rent hikes across the country over the last year, which may make it difficult for renters keen to save for a home loan.

Last week, popular insurance provider RACQ said it plans to withdraw its Compulsory Third Party (CTP) insurance scheme from its car insurance offerings.

After previously hinting at more rate hikes to come, the Reserve Bank of Australia (RBA) astonished home loan holders this week with another pause for this year. The decision leaves the official cash rate at 4.10% – its highest peak since 2012.

As the winter chill sets in, families across the country are cranking up the heat to stay warm and cosy. However, with the rising cost of electricity, keeping your energy bill in check can be a real challenge. The good news is, there are plenty of fun and creative ways for families to save on electricity without sacrificing comfort. So, put on your thinking caps and get ready for some exciting ideas to reduce your energy consumption while still enjoying a fun-filled winter season with the whole family.

Against all opinions, the Reserve Bank of Australia (RBA) did not hold interest rates steady in June. Instead, the bank maintained its hawkish bias by adding another 0.25% to the official cash rate to chase down runaway inflation.

The permanent security of a home is something we all strive for.