News archive for November 2023

November 2023

Cheap stock brokers

Cheapest stock brokers in Australia

Want the most affordable way to start trading shares? We've reviewed more than 70 products from over 30 online brokers in the Mozo database and found these to be the cheapest options.

What a leading home loan looks like in 2024

What a leading home loan looks like in 2024

A home loan that rewards you for your loyalty, does away with pesky fees, and has a low variable rate that’s well below the average home loan in Mozo’s database.^^

Macquarie bank ups savings interest rate

Macquarie Bank ups savings interest rate to 5.50%

A few weeks before the RBA decision on the official cash rate, Macquarie Bank has notably bumped up the interest rate on its savings account of balances up to $250,000.

Aussie etf investors hit 2 million whats luring people

Aussie ETF investors hit 2 million: What’s luring people?

Aussie investors are eating up ETFs (exchange-traded funds) with more than 2 million currently invested in ETFs for the first time according to fund manager Betashares. And it isn’t likely to stop there, with the fund manager finding that an additional 310,000 can be expected to enter into the market over the coming years.

Would you move to a new city to buy a home

Would you move to a new city to buy a home?

With home values on the rise, Australians priced out of the markets where they currently live may have to consider a change of scenery if they want to buy.

Domestic travel surge aussies choose these top spots over big cities

Domestic travel surge: Aussies choose these top spots over big cities

Australian travel is on an exciting upturn according to Tourism Research Australia. We're back to pre-pandemic levels in terms of domestic trips and spending, with a 30% and 57% year-on-year increase, respectively. The real story, however, lies in where we’re going.

Low ost christmas on cards

Low-cost Christmas on the cards as Aussies seek cashbacks

Seventy-four per cent of Aussies are actively seeking shopping bargains, deals and cashbacks right now, Westpac research shows. This is while they are experiencing financial hardship due to the high cost of living.

Home loan interest rates now hitting 9 percent

Home loan interest rates now hitting 9% – time to switch?

Home loan pain is reaching a fever pitch following the November RBA rate hike. Out of all the mortgage lenders that have increased their interest rates, Mozo has recorded 7 in our database whose standard variable rates (SVRs) are now over 9%. The rest mostly sit between 6% and 8%.

Is a personal loan better than a credit card

Is a personal loan better than a credit card?

It can be challenging when a product or service catches your eye but you don’t have the funds to pay for it. As you start to review your options, you’ve come across personal loans and credit cards as a way to front the expense.

Apra sept 2023 super statistics

APRA's latest superannuation stats: what it means for your retirement nest egg

The Australian Prudential Regulation Authority (APRA) has released its 2023 September quarterly superannuation performance statistics report, which suggests that the superannuation industry is facing some challenges in the current economic environment but is still relatively well-positioned for the long term.

Anz bucks trend with a 2000 cashback refinance home loan offer

ANZ bucks trend with a $2000 cashback refinance home loan offer

The number of cashback switching incentives for borrowers to refinance their home loan has declined throughout 2023, but in good news for borrowers ANZ Bank is bucking the trend and has a $2,000 cashback offer available to new customers.

Nrma dubbed most trusted insurance brand in 2023

NRMA dubbed ‘most trusted insurance brand’ in 2023

Not only has the NRMA scored numerous Mozo Experts Choice Awards in car insurance, home insurance, and travel insurance, but they’ve just been awarded the title of ‘Most Trusted Insurance Brand’ in 2023.

Aussies are cutting back on streaming costs says deloitte

Aussies are cutting back on streaming costs, says Deloitte

The cost of living crisis is causing many people to reevaluate their finances and cut down on unnecessary costs. New research by Deloitte has found that one of the things that Aussies are cutting down on is streaming platform subscriptions.

Hanging up on optus weve got some alternatives

Hanging up on Optus? We’ve got some alternatives

From a data breach that affected over a third of the Australian population to a nationwide outage just last week, Optus customers have been through the wringer over the past two years.

Smaller lenders with low rates homebuyers should know

Smaller lenders with low rates homebuyers should know

The thirteenth Reserve Bank of Australia (RBA) cash rate hike has pushed smaller home loan lenders to raise interest rates in November. So, where do the opportunities lie for borrowers searching for a great rate?

Ato super non compliance

ATO Ramps Up Superannuation Compliance

In the 2022-2023 financial year, the ATO reclaimed $1.13 billion in Super Guarantee Charges, penalties for companies that fail to pay required super contributions on time.

Reserve bank interest rates

13th RBA rate hike: The list of banks that have increased home loan rates

The Reserve Bank of Australia has given inflation another astonishing kick with a thirteenth rate hike. The decision lifts the official cash rate by 25 basis points to 4.35%. For mortgage holders, November will offer no relief as the changes ripple across home loans.

Lost jewellery phone records

Insurance claim hits a snag over privacy concerns

In a recent ruling, the Australian Financial Complaints Authority (AFCA) has sided with an insurance company in denying a lost property claim, basing its ruling on the claimant's refusal to submit phone records to the insurer.

November 2023 financial checklist

November 2023 Financial Checklist

A pinch and a punch for the first day of the month! November’s here, which means the countdown to Christmas is officially on. From Christmas shopping to Black Friday sales and more, here’s everything you need to get you through the month ahead.

Amex credit card members get ready shop small is back

AMEX credit card members get ready: Shop Small is Back!

In an attempt to highlight the importance of small businesses, credit card provider American Express has announced that it will be holding its 11th annual Shop Small Movement this November.

What is your money emotion

What is your money emotion? 5 common feelings around finances

Money matters can cause emotional stress but some of us are afraid to confront the issue. This is understandable, though might not help in the long run. Like a good budget, handling such emotions or stresses is best looked at ahead of time.

November home loan snapshot rba rate hike looms over melbourne cup

November home loan snapshot: RBA rate hike looms over Melbourne Cup.

Economists are placing bets for Cup Day, and odds are home loans may have a shock in November. Inflation and the weather have started to warm again headed into summer, so now there’s a greater than none chance the Reserve Bank of Australia will hike the cash rate another 25 basis points to 4.35% – another decade high.

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