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

By Rhianna Dews · · 3 min read
Fact Checked
Advertiser disclosure
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.

On the hunt for the right home loan to help you buy your dream home? Start comparing home loan options today with our free home loan comparison tool below:

Compare Home Loans today - last updated 20 April 2024

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure
  • Featured Product
    Mozo Expert Choice Badge
    Unloan Variable

    Owner Occupier, LVR <80%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a. variable
    5.90% p.a.

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

    Compare
    Go to site
    Details
  • Mozo Expert Choice Badge
    Express Home Loan

    Owner Occupier, Principal & Interest, LVR <90%

    interest rate
    comparison rate
    Initial monthly repayment
    6.01% p.a. variable
    6.14% p.a.

    Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

    Compare
    Go to site
    Details
  • Flex Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR <60%

    interest rate
    comparison rate
    Initial monthly repayment
    5.99% p.a.
    fixed 3 years
    6.37% p.a.

    Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.

    Compare
    Go to site
    Details
  • Discounted Home Value Loan

    Owner Occupier, Principal & Interest, LVR 70-80%

    interest rate
    comparison rate
    Initial monthly repayment
    6.09% p.a. variable
    6.09% p.a.

    Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).

    Compare
    Details
  • Neat Home Loan

    Owner Occupier, Principal & Interest, LVR <60%

    interest rate
    comparison rate
    Initial monthly repayment
    6.14% p.a. variable
    6.16% p.a.

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

    Compare
    Go to site
    Details

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.