Better broadband speeds, February Financial Checklist & Ampol enters Australian energy market: This week’s best banking news

Better broadband speeds, February Financial Checklist & Ampol enters Australian energy market: This week’s best banking news
  • It’s official, home buyers took on debt like never before in 2021
  • Better broadband speeds on the agenda? Telstra to invest $1.6 billion into fibre projects
  • Take on February with your fave Financial Checklist
  • Petrol retailer Ampol to enter Australian energy market
  • Personal Loans Snapshot: February 2022
  • Fourth CBA home loan rate increase since November

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

It’s official. Homebuyers took on debt like never before in 2021

According to the latest ABS (Australian Bureau of Statistics) figures, new loan commitments taken on by Australian property buyers reached a new high in 2021.

The report revealed that a record $369.76 billion worth of new owner-occupier and investor home loans were taken out last year, with a new record monthly figure of $32.8 billion in December.

Read the full article: It’s official, homebuyers took on debt like never before in 2021 for the full scoop.

Better broadband speeds on the agenda? Telstra to invest $1.6 billion into fibre projects

Telco giant Telstra plans to invest a whopping $1.6 billion into a pair of fibre projects. One project will aim to achieve increased capacity and broadband speeds between capital cities, while the other aims to support a satellite internet network.

As Telstra put it, the $1.6 billion investment is considered to be “outside of business-as-usual capital” and is expected to be spent over a five year period. 

Read the full article: Better broadband speeds on the agenda? Telstra to invest $1.6 billion into fibre projects for all the deets.

Take on February with your fave Financial Checklist

Take on February with your fave Financial Checklist

“It must be love, love, love.” (*ba dum*). ​​​​​​​​February might be the shortest month, but it can also be one of the most expensive.

Luckily your fave Financial Checklist is here to help you through!​​​​​​​​

In your February 2022 Financial Checklist:​​​​​​​​

Read the full article: February 2022 Financial Checklist for all you need to get through the end of summer.

Petrol retailer Ampol to enter Australian energy market

This just in: Petrol refiner and retailer Ampol will soon jump into the Australian energy market, eager to tap into its existing customer base of 3 million.

Unafraid to compete against the major retailers, Ampol plans to offer both electricity and gas across numerous Australian states and territories.

Read the full article: Petrol retailer Ampol to enter Australian energy market

Personal Loans Snapshot: February 2022

Personal Loans Snapshot: February 2022

As we kick off 2022 and reflect on how personal loan interest rates have been tracking over the past couple of months, we saw several discounted rates come out.

Taking a look at the latest ABS Lending Indicators release, there was a 0.7% increase in fixed-term personal loan commitments (seasonally adjusted) in December 2021. Quite a drop when compared to November’s 4.5% increase in fixed-term personal loans from the month prior.

Additionally, the release reported a 0.6% decrease in new loan commitments for road vehicles, as well as a massive 17.4% increase in the value of new loan commitments for personal investment.

Read the full article: Personal Loans Snapshot: February 2022 to find out more.

Fourth CBA home loan rate increase since November

Well, well. It appears that the Commonwealth Bank has increased the rates on a number of its fixed home loans for the fourth time since November, this time by five to 20 basis points.

The latest changes will affect both owner-occupier and investor loan rates, including its Fixed Rate Home Loan and Fixed Rate Home Loan (Wealth Package).

Read full article: CBA increases fixed home loan rates by 5-20bp for more information.

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