You know that infuriating habit the big banks have of failing to pass on the RBA’s cash rate cuts in full? Well, it’s finally triggered the federal government to order an inquiry into home loan pricing. The inquiry, which is being conducted by the Australian...
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.75%. But will the banks pass on the interest rate cut in full to you? RBA Governor Philip Lowe said this third rate cut in five monetary policy meetings was...
Three-in-five prospective first home buyers intend to buy soon with a smaller deposit, rather than wait until they have saved a 20% deposit. So how do they plan on doing so? It usually takes between seven to 14 years for first home buyers to save a 20% first home...
More than one-in-five SMEs are having cash flow problems due to business loans being rejected, according to new research. The report, by market analysis firm East & Partners on behalf of Scottish Pacific, also shows just one in 10 SMEs believe they are on top of...
Imagine buying your first home with only a 5% deposit and not having to pay lenders mortgage insurance (LMI). Well, that dream is one step closer to reality after the government introduced legislation to implement the First Home Loan Deposit Scheme. Currently, people...
Lending to Aussie households spiked 3.9% in July, the strongest growth seen since October 2014, according to the Australian Bureau of Statistics (ABS). The bumper month follows a 1.9% rise in June 2019, suggesting the tide has finally started to turn in the lending...
