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When it comes to finance, we believe knowledge is power! Our aim is to provide you with the most up-to-date news and information to help you make decisions about your own financial journey. Sometimes you just don't know what you don't know, so these articles can also provide a great starting point for you to start formulating the questions you need to ask us.
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Why interest rates have climbed
While interest rates have increased significantly over the past 18 months, this increase, thankfully, has been less than one might have expected, due to competition, according to the Reserve Bank. Between April 2022 and September 2023, the cash rate increased by 4.00 percentage points. However, banks increased their variable rates by, on average, only 3.32 […]
Property market keeps growing despite high interest rates
A new report from CoreLogic has found that median property prices increased in 82.4% of local markets in the three months to October, based on a sample of 4,506 suburbs across Australia. That included price increases in 83.1% of house markets and 80.6% of unit markets. Focusing just on house markets, prices increased in: CoreLogic's […]
The share of fixed-rate loans continues to fall
The great transition of the mortgage market, from having a heavy share of fixed-rate loans to now being dominated by variable-rate loans, has gathered pace, according to Reserve Bank data. During 2020 and 2021, when interest rates fell to record-low levels, enormous numbers of borrowers took out two-year and three-year fixed loans at very low […]
Borrowing increases as property market heats up
There's been a big rise in home loans activity over the course of the year, with investors leading the way. Between February and September, the total volume of mortgage commitments rose 9.5% to $25.0 billion, according to the latest data from the Australian Bureau of Statistics. Owner-occupied borrowing climbed 6.1% to $16.1 billion, while investor […]
RBA leaves cash rate unchanged at 4.35%
In its last monetary policy decision of the year, the Reserve Bank of Australia (RBA) left the cash rate on hold at today’s board meeting. The decision comes as new data from the Australian Bureau of Statistics showed annual inflation eased sharply from 5.6% to 4.9% in October as higher interest rates worked to cool […]
Deadline fast approaching for people who do their own taxes
The Australian Taxation office (ATO) has reminded taxpayers to lodge their taxes by the October 31 deadline or engage with a registered tax agent to avoid late lodgment penalties. If you have simple tax affairs, you can lodge online, often in under 30 minutes, through the myGov portal. Most of the information you need will […]
How the Federal Government is helping first home buyers
A new report, from Housing Australia, has revealed that about one in three of all first home buyers in the 2022-23 financial year used the federal government’s Housing Guarantee Scheme (HGS) and its three different assistance programs. Here’s what the typical participant looked like, according to Housing Australia: Meanwhile, Housing Australia is the name of […]
How interest rates have evolved over the past 18 months
The latest Reserve Bank of Australia (RBA) data has shown the impact the RBA's cash rate rises have had on the mortgage market. The key is to compare average interest rates for all outstanding loans in April 2022 – the month before the first rate rise – and August 2023 – the most recent month […]
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