Banks Raise Rates and Cut Jobs

November 13, 2015 by Finance Guy

Australian banks are raising interest rates and cutting jobs at a time when the RBA has left the official rate on hold. Recent changes in the Australian mortgage industry have forced banks to take measures to protect their profit growth.

The monthly mortgage payments of every day Australians has gone up because the banks want to keep the share price high and the investors happy. After all, it's the shareholders who can vote out the top executives from their high paid jobs!

Big Four All to Increase Variable Mortgage Rates

October 23, 2015 by Finance Guy

All four of the Australian major banks will increase their standard variable rates by the end of next month. This will give home loan customers a rate rise at a time when the RBA has left the official cash rate on hold.

If you have a variable mortgage with one of the Big Four, now is a great time to review your options and see what better deals are available. Save interest and get out of debt faster

CBA Gives Variable Home Loans a Rate Hike

October 22, 2015 by Finance Guy

CBA has announced that effective November 20th, they will increase their standard variable home loan rate by 0.15% This comes at a time when the RBA has left the official cash rate on hold. CBA is the second major bank to give their mortgage customers a rate rise. Last week Westpac announced that their variable rate is increasing by 0.20%

If you have a variable rate home loan, then now is a good time to shop around for a better deal!

Westpac to Increase Interest Rates

October 14, 2015 by Finance Guy

Westpac has announced that they will increase interest rates on all variable mortgages by 0.20%. The changes come into effect on November 20th. At this time, it is not known if other banks will follow suit. It seems to be a good time to start considering fixing a portion of our home loans

How is Home Loan Interest Calculated

August 20, 2015 by Finance Guy

In Australia, interest on home loans is quoted as an annual rate, then calculated daily, and charged monthly. We decided to have a streetonomic look at how the interest on your home loan is calculated and what you can do to pay less interest and get out debt faster

6 Ways to Pay Off Your Credit Cards

August 07, 2015 by Finance Guy

Getting your credit cards under control will improve your finances, reduce your stress, and put you on a path to a better future (financially). Here are our 6 strategies to help you get rid of your credit card debt.

Australian Mortgage Industry in for Big Changes

August 05, 2015 by Finance Guy

Buying an investment property in Australia, has suddenly become more difficult. Several lenders have adjusted their policies toward residential investment mortgages, and all the changes have made it more difficult for borrowers.

We expect that the Australian mortgage industry is about to go through more changes, and all of them will make it more difficult to borrow for a home loan

Should I Make Extra Loan Payments

July 13, 2015 by Finance Guy

Australians are currently in more debt than they've ever been in before. We look debt and how even a small extra loan payment can help get you out of debt faster and save you money

6 Tips to Repaying Your Home Loan Faster

July 06, 2015 by Finance Guy

Do you want to get out of debt faster? The Finance Guy shares 6 tips to help you pay off your loans faster. Get out of debt years faster, and save thousands of dollars

Do Banks Pass on Rate Cuts?

June 24, 2015 by Finance Guy

Over the past 8 years, since the GFC, the banks have passed on 65% of rate cuts to home loans and kept 35% of the difference for themselves. Whether the retained amount was due to profiteering or covering costs, we can not say.

We have streetonomic look at the net interest margin made on mortgages in Australia

Will a Mortgage Professional Package Improve Your Home Loan?

June 23, 2015 by Finance Guy

If you apply for a new home loan in Australia, it's likely that you'll be offered their 'Professional Package' option. The Finance Guy has a streetonomic look at pro packs. We want to know if they are clever marketing, or are they a way to save serious money on your mortgage

Should We Fix our Mortgage?

May 21, 2015 by Finance Guy

The Australian Cash Rate is at an all time low! Is now the time to fix your home loan?

The Finance Guy takes a streetonomic look at Australian mortgage rates, and provides some insight into whether or not now is the right time to fix!

What is a Mortgage Offset Account?

April 22, 2015 by Finance Guy in Home Loans

If you have a home loan, then a mortgage offset account, is a great place for your extra cash. It will help you pay off your home faster. With an offset account, you can save thousands of dollars and take years off your mortgage.

Need access to your funds? Not a problem. A mortgage offset account is an 'at call' cash account. There is no obligation to lock your funds in. An no penalty for making extra deposits or withdrawals

Should a Super-Property have a Super-Loan?

April 15, 2015 by Finance Guy

There's no denying that Aussies love investment property, and a growing number of us are buying property in our Super Funds. We've taken a streetonomic look at the mortgages used by self managed superannuation funds. We look at how they work, how to qualify for them, and discuss the potential risks.

RBA Expected to cut rates to 2.00% on April 7th

April 02, 2015 by Finance Guy

Along with two thirds of the market, we believe the Reserve Bank of Australia will cut the official cash rate by 25 basis points when they meet after the Easter long weekend, on Tuesday April 7th. The official cash rate will drop to an all time low of 2.00%. We discuss why we believe the RBA will cut rates.

We also look at a history of the standard variable rate charged by banks, and see that there is a possibility that we will not see the full rate cut passed on to our home loans.

Does a lower interest rate always save you money?

November 26, 2014 by Finance Guy

The Australian mortgage market is full of great deals, but how do you know which ones will help you pay off your home loan faster?

Is Negative Gearing Really a Benefit?

September 30, 2014 by Finance Guy

The RBA is concerned that there are too many home loans in Australia are interest only. Investors are attracted to the negative gearing attribute which enables them to pay less tax. Is paying tax worth earning less money?

Are Australian Loans the Riskiest in the World?

September 11, 2014 by Finance Guy

In Australia, fixed loans represent only 13.7% of the total lending market. Does this mean that Australians are risk takers?

General Advice Warning: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.