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25.01.2022 Strap yourself in: Australian house prices are tipped to experience a mild COVID-19 dip before surging 15% over the following two years, according to some of the nation's top economists. And in more good news for homeowners, RBA Deputy Governor Guy Debelle has hinted at further reductions to interest rates, while not going into negative territory.

25.01.2022 SME businesses in need of working capital due to the coronavirus outbreak can now access unsecured loans more cheaply and more freely than ordinary business loans. The initiative is part of the governments $40 billion Coronavirus SME Loan Guarantee Scheme, which kicked off just before the Easter weekend.

25.01.2022 You might have heard that the federal government will give eligible Australians $25,000 to build or substantially renovate homes as part of the new HomeBuilder scheme. Today well look at who exactly can qualify for the initiative.

25.01.2022 Looking to refinance your home loan? A valuation is a vital part of the process. So today well look at some ways you can help get your home in tip-top shape. When you refinance to try and get a better deal on your home loan, the lender youre applying with will arrange a valuation to estimate what your property is worth.

24.01.2022 RBA LEAVES RATE ON HOLD At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent. The outlook for the global economy remains reasonable. There have been signs that the slowdown in global growth that started in 2018 is coming to an end. Global growth is expected to be a little stronger this year and next than it was last year and inflation remains low almost everywhere. One continuing source of uncertainty, despite recent progress, is the trade...Continue reading

22.01.2022 JobKeeper is due for a big shake-up next month, which means if youve been relying on it to get your business through these rocky times, you need to start planning ahead now.

21.01.2022 Found yourself with extra time on your hands? Slightly worried about meeting your home loan repayments? Want to make use of those back-to-back rate cuts? While the world has changed significantly over the past month, its possible to use some changes to your advantage. Before we go any further though, we want to say we understand theres no shortage of Aussie families doing it tough right now.

20.01.2022 Homeowners in record-high numbers are taking advantage of reduced interest rates and competitive refinancing offers. Are you ready to take the leap? When times are tough, the belt gets tightened.

20.01.2022 Got a pool youre constantly scooping leaves out of but never use? Or perhaps youre looking to cool off this summer in the privacy of someone elses backyard. Well, a new pool-sharing app has just launched in Australia. We Aussies love to swim. In fact, weve won the second most swimming gold medals at the Olympic Games - only behind the US.

19.01.2022 Consumer sentiment is surging, confidence in the housing market is booming, and the number of experts tipping a Melbourne Cup Day cash rate cut is increasing. Let’s look at why households and businesses are becoming increasingly optimistic. Ahh, spring. It’s fair to say we love it around here.

19.01.2022 The dreaded and controversial stamp duty tax could soon be a thing of the past, with calls for it to be abolished gaining momentum. The Property Council of Australia is the latest body to add their voice to the chorus this month after both the NSW and Victorian state governments ramped up calls for stamp duty reform.

18.01.2022 The property price caps in each state have been revealed for the federal governments new first home buyer scheme. Read on to find out the maximum value of a property you can purchase under the scheme. Imagine buying your first home with a 5% deposit and not having to pay lenders mortgage insurance (LMI).

16.01.2022 RBA reduces cash rate by 0.25% plus other measures At a meeting yesterday, the Reserve Bank Board agreed to the following comprehensive package to support the Australian economy through this challenging period: A reduction in the cash rate target to 0.25 per cent.... The Board will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 23 per cent target band. A target for the yield on 3-year Australian Government bonds of around 0.25 per cent. This will be achieved through purchases of Government bonds in the secondary market. Purchases of Government bonds and semi-government securities across the yield curve will be conducted to help achieve this target as well as to address market dislocations. These purchases will commence tomorrow. The Bank will work closely with the Australian Office of Financial Management (AOFM) and state government borrowing authorities to ensure the efficacy of its actions. Further details about the implementation of this are provided in the accompanying notice. A term funding facility for the banking system, with particular support for credit to small and medium-sized businesses. The Reserve Bank will provide a three-year funding facility to authorised deposit-taking institutions (ADIs) at a fixed rate of 0.25 per cent. ADIs will be able to obtain initial funding of up to 3 per cent of their existing outstanding credit. They will have access to additional funding if they increase lending to business, especially to small and medium-sized businesses. This facility is for at least $90 billion. Further details are available in the accompanying notice. The Australian Government has also developed a complementary program of support for the non-bank financial sector, small lenders and the securitisation market, which will be implemented by the AOFM. Exchange settlement balances at the Reserve Bank will be remunerated at 10 basis points, rather than zero as would have been the case under the previous arrangements. This will mitigate the cost to the banking system associated with the large increase in banks' settlement balances at the Reserve Bank that will occur following these policy actions. The Reserve Bank will also continue to provide liquidity to Australian financial markets by conducting one-month and three-month repo operations in its daily market operations until further notice. In addition, the Bank will conduct longer-term repo operations of six-month maturity or longer at least weekly, as long as market conditions warrant. The various elements of this package reinforce one another and will help to lower funding costs across the economy and support the provision of credit, especially to small and medium-sized businesses.

16.01.2022 Like most sequels, JobKeeper 2.0 wont be as big a blockbuster as the original. But thats not to say it won't help many SMEs navigate the difficult times ahead. Today well cover what you need to know about making the transition for your business. Its hard to believe that JobKeeper 2.0 is due to begin next week.

16.01.2022 You know that infuriating habit the big banks have of failing to pass on the RBAs cash rate cuts in full? Well, its finally triggered the federal government to order an inquiry into home loan pricing.

16.01.2022 Applications for the new First Home Loan Deposit Scheme are now open, with 10,000 guarantees available to first home buyers looking to get a leg up into the property market. Now, with 10,000 spots it might sound like you've got plenty of time up your sleeve to take advantage of the new scheme, but consider this: 110,000 Australians bought their first home in 2018.

15.01.2022 First home buyers are now breaking into the property market more than four years faster than they typically would thanks to a little-known government scheme. Today well discuss how. Ever heard of the First Home Loan Deposit Scheme? If not, dont stress, it only launched this year and the first six months of data has only just been published.

15.01.2022 You might have recently heard that ‘responsible lending laws’ are set to be scrapped early next year. Rest assured though that you'll still be able to borrow responsibly. Let us explain how. The planned scrapping of the responsible lending laws is the federal government’s latest key initiative to boost economic recovery from the COVID-19 recession.

14.01.2022 On your marks, get set, go! The race is on for limited spots in the federal government's First Home Loan Deposit Scheme, which kicked off again on July 1. The scheme allows eligible first home buyers with only a 5% deposit to purchase a property without paying for lenders mortgage insurance (LMI) which can save you up to $10,000.

14.01.2022 Downsizers are tipped to take advantage of the perfect storm and get the most out of the property market this year, predicts the national body representing professional buyers agents.

14.01.2022 Interested in a $10,000 business grant? How about buying a much-needed asset and immediately writing off the cost? Here are four looming deadlines your business may need to start moving on ASAP. We understand that navigating the challenges of COVID-19 is probably taking up your every waking hour at present (and possibly the non-waking hours, too).

14.01.2022 Mortgage holders and business operators are being encouraged by the RBA to switch lenders if their bank doesn’t pass on the latest cash rate cut. The Reserve Bank of Australia (RBA) delivered mortgage holders and business operators a Melbourne Cup Day win by cutting the official cash rate by 15 basis points to a new record low of 0.10%.

14.01.2022 Non-major lenders have started offering another 5,000 slots for the First Home Loan Deposit Scheme, which allows first home buyers to purchase a property with a deposit of 5% without having to pay Lenders Mortgage Insurance (LMI).

13.01.2022 SME owners concerned about the coronavirus outbreak impacting their cash flow are being urged to talk to their creditors as soon as possible. Earlier this month the RBA cut the official cash rate by 25 basis points to a new record low of 0.50% due to the impact of the coronavirus outbreak on global financial markets.

12.01.2022 Youve heard the saying safe as houses, right? Well, it seems that old adage may ring true even in the current pandemic, with many of the nations top economic experts saying thats where theyd put their money right now. A Finder survey asked 28 leading experts and economists to weigh in on future cash rate moves and other issues related to the state of the Australian economy.

12.01.2022 Youve probably heard the federal government is giving $25,000 grants to eligible Australians looking to build or substantially renovate their homes. Today well look at what that means for first home buyers when combined with state and territory schemes.

11.01.2022 The crucial final touches on the federal governments $25,000 HomeBuilder scheme have been revealed. Will your build be eligible? When the federal government announced its $25,000 HomeBuilder scheme in early June the immediate reaction from many was you little beauty, quickly followed by, wait...

07.01.2022 RBA drops rate to RECORD LOW ! At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.75 per cent. While the outlook for the global economy remains reasonable, the risks are tilted to the downside. The USChina trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans because of the increased uncertainty. At the same time, in most advanced economies, unemployment rates are low a...Continue reading

06.01.2022 Once upon a time you were rewarded for loyalty. But borrowers with older mortgages are typically paying a higher interest rate than customers on new loans, confirms the Reserve Bank of Australia (RBA). The RBAs study finds that the difference in interest rates between new and outstanding variable-rate home loans increases with the age of the loan.

06.01.2022 If your small business is being affected by the coronavirus your loan repayments will be deferred for six months, says the Australian Banking Association (ABA). ABA CEO Anna Bligh today announced a small business relief package from Australias banks. Small businesses can rest assured that if they need help, they will get it, Ms Bligh said.

05.01.2022 The majority of property investors are remaining upbeat despite COVID-19, with 67% believing now is a good time to invest in residential property, according to a new survey. The 2020 PIPA Property Investor Sentiment Survey gathered insights from nearly 1,100 property investors in August, with the key finding that the majority of property investors remain optimistic about the months ahead.

05.01.2022 The First Home Loan Deposit Scheme is back; bigger, better and more buyer-friendly than before. If you’re a first home buyer who missed out on the first two rounds, then here’s how to make it a case of third time’s a charm! It’s federal budget week, and this year’s big winners in the world of property and finance are first home buyers, with the federal government announcing a fresh extension to

04.01.2022 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 deposit, according to a new report by Genworth on recent and prospective first home buyers (FHBs).

02.01.2022 A question thats been popping up a bit lately has been why didnt my lender reduce my repayments when the interest rate fell last year? Its a good and timely question considering the big four bank economists all expect the RBA to cut the cash rate by 25 basis points to a new record low of 0.5% on February 4.

02.01.2022 RBA Leaves rate unchanged..... FOR NOW Points : The outlook for the global economy remains reasonable. ... Interest rates are very low around the world and a number of central banks have eased monetary policy over recent months in response to the downside risks and subdued inflation. After a soft patch in the second half of last year, the Australian economy appears to have reached a gentle turning point. The unemployment rate has been steady at around 5 per cent over recent months. It is expected to remain around this level for some time, before gradually declining to a little below 5 per cent in 2021. Inflation is expected to pick up, but to do so only gradually. In both headline and underlying terms, inflation is expected to be close to 2 per cent in 2020 and 2021. There are further signs of a turnaround in established housing markets. Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments.

02.01.2022 Loyalty is an admiral trait when it comes to our friends, family and loved ones. But if youre extending that virtue to the banks, then theres a good chance its costing you thousands of dollars. Thats the takeout from the ACCCs latest Home Loan Price Inquiry interim report.

01.01.2022 Predatory payday lenders are profiting from vulnerable Australians and trapping them in spiralling debt, according to a collaborative report by 20 consumer advocacy bodies. The report, The Debt Trap: How payday lending is costing Australians, projects that by the end of the year there will be $1.7 billion worth of payday loans lent out in Australia. It also found that over 4.

01.01.2022 If youve deferred your home or business loan then its likely your bank will reach out to you in the coming weeks. Heres what to expect and what options are available to you. As the initial wave of six-month loan payment deferrals comes to an end, banks have started contacting customers to discuss the next step, which could include further support, assistance or deferral.

01.01.2022 The pendulum may have swung a bit too far when it comes to the tight lending standards currently imposed on small businesses, says the Reserve Bank of Australia (RBA). Since the RBA cut the official cash rate to a new record low of 0.

01.01.2022 With interest rates at record low levels, today well look at a question that many are asking: should I lock in a fixed rate home loan? You may have recently received a call directly from your bank, or seen more ads than usual across the internet spruiking super low fixed-rate mortgages. Heres why: lenders are scrambling over one another to lock-in customers right now.