Tag Archives: Interest

CBA hikes interest rates

The Commonwealth Bank of Australia has increased rates for its variable home loan customers by 0.25 percentage points following RBA’s historic cash rate hike earlier this month. Australia’s biggest bank is the last of the big four banks to lift its rates. NAB and ANZ hiked their variable rates for both new and existing customers […]

Can Mortgage Interest Be Deducted?

While this seems like a simple question, your monthly mortgage payment is actual going into an escrow account for taxes and insurance, going towards a principle payment, and going towards an interest payment. In some cases, your payment may also be going towards mortgage insurance. Interest & mortgage insurance can be deducted in some cases. […]

This Is Why Higher Interest Rates Are Good For Homebuyers And Bad For Sellers

This Is Why Higher Interest Rates Are Good For Homebuyers And Bad For Sellers. You know a higher interest rate means a higher interest payment. That is a given. However, as a buyer, higher interest rates do three things. They push investors out of the housing market, they stabilize home prices, and they push uneducated […]

Federal Reserve approves interest rate hike of half a percentage point What does that mean for mortgage rates?

The Federal Reserve Wednesday approved a 50 basis point increase to its policy interest rate in an effort to reduce inflation, in conjunction with a plan to shrink its $9 trillion asset portfolio beginning next month, according to Chairman Jerome Powell. During a news conference following the Fed’s committee meeting, Powell announced the increase and outlined the […]

Could rising interest rates cool the overheated housing market?

The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, announced that 30-year-fixed rate mortgages averaged higher than 5% in April for the first time in more than a decade. Subscribe at: Find ABC10 online: Sign up for our newsletter: Stream ABC10 on Roku: Stream ABC10 on Amazon Fire: Stream ABC10 on AppleTV: Like […]

MyState Bank lifts interest rates for home loan borrowers

Following the Reserve Bank of Australia’s (RBA) decision to lift OCR for the first time in more than 11 years, from a record low 0.1% to 0.35%, MyState Bank has announced that it will increase interest rates for home loan customers by 25 basis points, effective the May 19 for new loans and existing loans. […]

24 lenders raise interest rates

The number of lenders to raise interest rates has now reached 24, following the Reserve Bank decision to increase the official cash rate on Tuesday. Online comparison website Mozo has released on Friday a list of 24 lenders, including big banks and non-majors, which have all lifted their variable rates by 25 basis points. The […]

Assumable Mortgages Save the Day Amidst Rising Interest Rates

Interest rates are rising, and we’re unsure if we’re nearing a peak or if they will continue to soar. All we know is that they’ve nearly doubled in the past year, and this poses a problem for some of our clients at the mortgage desk. These days, home buyers are doing everything they can to […]

Clients seek advice on interest rate rise

Mortgage brokers across Melbourne and Sydney are working with their clients who need guidance following the Reserve Bank’s decision to lift the official cash rate on Tuesday. Sydney-based New Vision Financial Services managing director and broker Chris Brown (pictured above) said due to the lifting of interest rates he was discussing with his clients about […]

Suncorp Bank lifts variable home loan interest rates

Suncorp Bank has announced that it will increase its variable home loan interest rates by 0.25% following the Reserve Bank of Australia’s decision to increase the cash rate by 25 basis points. The new rates will come into effect from May 18. Suncorp Bank CEO Clive van Horen said the interest rates had been adjusted […]