Interest Rates

  • Risk of negative GDP, first in five years AAP - 1 hour 25 minutes ago

    Economists' forecasts range from a modest 0.1 per cent rise in the quarter to a decline of as much as 0.3 per cent, which would leave the annual rate at between two and 2.3 per cent. It would be a marked deterioration from the annual 3.3 per cent growth rate as of June. Central bank governor Philip Lowe anticipated some slowing in economic growth by year-end "before it picks up again", pointing to a future pick-up in exports as completed resource projects come on line.

  • How do you get a reverse mortgage loan? - 7 hours ago

    Getting a reverse mortgage loan is different from getting a regular mortgage, the kind you use to buy a home. Here's what you need to know about how to get a reverse mortgage loan. Before you start looking for a loan, you should know that not just any homeowner can get a reverse mortgage loan.

  • Share profits of property sale with kids to avoid tax? - 7 hours ago

    Can I gift $14,000 each to my three children to reduce my capital gains tax? There is no deduction on your Form 1040 for gifting $14,000 to your three children, so this tactic will not help reduce the capital gains taxes owed on the sale of the rental property. First, let's be clear that we are not talking about gifts to qualified charitable organizations, as there is a tax deduction for charitable gifts if you itemize your deductions on Schedule A.

  • Stormy politics hits economic growth AAP - 13 hours ago
    Stormy politics hits economic growth

    Economists fear the Australian economy went backwards during the September quarter, which if correct will be a jolt for Malcolm Turnbull's government after going to this year's polls on a mantra of "jobs and growth". Analysts downgraded their already sombre economic growth forecasts for Wednesday's national accounts after weak exports and government finance figures on Tuesday, with some predicting a negative quarterly result, which would be the first since March 2011. Back then the contraction was the result of adverse weather events domestically and earthquakes in neighbouring New Zealand and Japan, Australia's second-largest trading partner.

  • RBA holds interest rate at 1.50% AAP - 14 hours ago
    RBA holds interest rate at 1.50%

    The Reserve Bank has held its benchmark interest rate at 1.50 per cent to avoid unsettling the patchy economy. After two cuts already this year, RBA governor Philip Lowe said it would be best to hold rates ...

  • Jobs, GDP, budget front of mind for most AAP - 16 hours ago
    Jobs, GDP, budget front of mind for most

    The economy is front and centre of people's minds heading into 2017, whether it be jobs, growth or the budget deficit. The latest Newspoll found more than one in three respondents nominate jobs and growth as their key concern as 2016 draws to a close. Fretting over the budget deficit is next best with 16 per cent of them.

  • Consumer confidence jumps 2.8%: ANZ AAP - 18 hours ago
    Consumer confidence jumps 2.8%: ANZ

    Australians remain optimistic about their finances and the wider economy with confidence jumping to a 10-week high. Confidence jumped 2.8 per cent in the week ending December 3, according to the ANZ-Roy ...

  • RBA interest rate tipped to stay at 1.5% AAP - 19 hours ago
    RBA interest rate tipped to stay at 1.5%

    The Reserve Bank is widely expected to leave its benchmark interest rate unchanged on Tuesday. All 12 economists surveyed by AAP and market pricing predict the cash rate to be left at a record low of 1.5 ...

  • No Christmas surprise from RBA expected AAP - Tue, Dec 6, 2016 3:31 AM AEDT

    It may be the time of year for surprises, but economists doubt the Reserve Bank is about to take part in the festive season when it holds its final board meeting of the year. Tuesday's monthly meeting is widely expected to leave the central bank's official interest rate unchanged at an all-time low of 1.5 per cent. Economists at National Australia Bank are expecting a negative 0.2 per cent GDP result, which would be the first quarterly decline since March 2011.

  • Are bank rate hikes a sign of what's to come? Yahoo7 Finance - Tue, Dec 6, 2016 12:00 AM AEDT
    Are bank rate hikes a sign of what's to come?

    The Commonwealth Bank is the latest lender to lift interest rates for homebuyers looking to fix their home loan, raising rates on a number of fixed products.

  • 7 terrific tips for taking your credit cards on vacation - Mon, Dec 5, 2016 9:00 PM AEDT

    Vacations and holidays are all about relaxing, so it's unlikely balances, bills and credit cards and debit cards are on your radar. If you normally buy shoes on Michigan Avenue in Chicago and suddenly you're buying croissants on the Champs Elysees in Paris, there's a chance your card could be declined or suspended.

  • A$ gains as greenback pulls back AAP - Mon, Dec 5, 2016 5:27 PM AEDT

    The Australian dollar has risen against a softening greenback as investors await the Reserve Bank of Australia's last rate decision for 2016 and third-quarter economic data. At 1700 AEDT on Monday, the ...

  • NAB and Westpac move on mortgage rates AAP - Mon, Dec 5, 2016 4:24 PM AEDT
    NAB and Westpac move on mortgage rates

    National Australia Bank and Westpac have raised interest rates on certain types of mortgages as Australia's biggest lenders seek to offset some of the pressure on their margins. NAB on Monday said it will increase variable rates on investor home loans by 0.15 percentage points from next week, while Westpac - which already imposed out-of-cycle rate rises of as much as 0.60 percentage points on some of its fixed rate home loans - has lifted its variable rates for all interest-only mortgages by eight basis points. With Commonwealth Bank having increased interest rates on fixed-rate owner-occupier and investor loans last week, ANZ is the only one of the big four banks yet to hike its rates - although chief executive Shayne Elliott last week said it was "reasonable" to expect out-of-cycle increases.

  • Factors behind this year's rate cuts AAP - Mon, Dec 5, 2016 1:42 PM AEDT
    Factors behind this year's rate cuts

    It came after inflation pressures proved much weaker than expected with a quarterly decline in prices for the first time since December 2008. This took the annual CPI rate to 1.3 per cent, well below the central bank's two to three per cent target. AUGUST - Cash rate cut from 1.75 per cent to a record-low 1.5 per cent at the penultimate meeting overseen by governor Stevens before his retirement.

  • August rate cut may have been the last AAP - Mon, Dec 5, 2016 1:33 PM AEDT
    August rate cut may have been the last

    The chance of the Reserve Bank cutting its official interest rate heading into Christmas is virtually non-existent. Financial markets see only the slimmest of risks of the cash rate going down any further, having stood at a record low 1.5 per cent since August. Last week the Organisation for Economic Cooperation and Development predicted the Reserve Bank would be raising the cash rate by the end of 2017, in line with developments among other central banks.

  • Retail spending encourages economists AAP - Fri, Dec 2, 2016 11:42 PM AEDT
    Retail spending encourages economists

    Economists have been cautiously encouraged by another robust rise in retail turnover. Retail spending rose 0.5 per cent in October, a third solid monthly rise that makes it the strongest three-monthly increase in retail turnover in just over two years. Westpac economist Matthew Hassan said the fine detail of the report suggests the expected dampening effect from price discounting did not materialise.

  • 5 warning signs of too much holiday credit card debt - Fri, Dec 2, 2016 9:00 PM AEDT

    This holiday season, consider giving yourself a present that always fits and doesn't require wrapping. Read your credit card statements. Most of all, know when it's time to keep those credit cards at home.

  • Buying a home? Here's how to do it right - Fri, Dec 2, 2016 9:00 PM AEDT

    Short-term homeownership rarely makes sense, says Ed Conarchy, a mortgage loan originator for Cherry Creek Mortgage Co. in Gurnee, Illinois. If you need a loan to buy the home, a real estate agent will want you to talk with a mortgage professional.

  • Can you negotiate the cost of leasing a car? - Fri, Dec 2, 2016 9:00 PM AEDT

    Dear Driving for Dollars, I keep hearing about negotiating when you buy a car, but I don't want to buy -- I want to lease. There's no negotiating when it comes to leasing a car, right? The payment is just ...

  • Costs and considerations when getting a nose job - Fri, Dec 2, 2016 9:00 PM AEDT

    Rhinoplasty or nose surgery, commonly known as a "nose job," involves a surgeon reshaping the bones, cartilage and tissues in your nose to alter its proportions and to enhance your facial looks. When it's done as a cosmetic procedure, it's unlikely your health insurance covers a nose job, so it pays to spend time researching the costs before deciding if surgery is the right option for you. According to statistics published by the American Society of Plastic Surgeons in 2014, the average cost of rhinoplasty is $4,694.

  • How much does it cost to replace a windshield? - Fri, Dec 2, 2016 9:00 PM AEDT

    Your vehicle's windshield is an important safety feature. In the event of an accident, the toughened safety glass strengthens the vehicle's structure to prevent the roof from collapsing, while also keeping you and your passengers inside the vehicle in the event of a head-on collision. Fortunately, in many cases, your auto insurance has got you covered.

  • Is there aid for disabled person facing eviction? - Fri, Dec 2, 2016 9:00 PM AEDT

    The bank wants to auction the home. As you likely know, a decree (or warrant) of ejection is a court order ending a person's legal right to continue living on a property, and I'd hate to see this happen to you and your wife.

  • Are Aussie interest rates about to hike? Yahoo7 Finance - Fri, Dec 2, 2016 12:24 PM AEDT
    Are Aussie interest rates about to hike?

    There is a slowly growing vibe that the next move in interest rates in Australia will be up. Perplexingly, money markets are starting to price in higher interest rates for reasons that are paying scant regard to local economic news.

  • Property booms are made to bust! Yahoo7 Finance - Fri, Dec 2, 2016 12:00 AM AEDT
    Property booms are made to bust!

    Some sectors of the Australian property market surprised on the upside this year. Particularly the Melbourne and Sydney property markets.

  • National mortgage rates for Dec. 1, 2016 - Thu, Dec 1, 2016 9:00 PM AEDT

    Interest Rate Roundup Mortgages 30-year fixed: 4.13% Average points: 0.23 Mortgage rates rose again this week, according to Bankrate's latest survey of large lenders. The benchmark 30-year fixed-rate mortgage ...

  • How to fortify and protect your home against wildfires - Thu, Dec 1, 2016 9:00 PM AEDT

    As Americans have seen from California to Tennessee, wildfire seasons can be unpredictable and devastating. About 100,000 wildfires burn millions of acres in the United States every year and destroy homes and other structures in the path of the flames. If you're in an area where wildfires are a potential danger, you can increase your home's survival odds by taking the proper precautions long before a fire threatens.

  • CD rates for Dec. 1, 2016 - Thu, Dec 1, 2016 9:00 PM AEDT

    Interest Rate Roundup CDs 1-year CD yields: 0.31% 5-year CD yields: 0.82% Rates on certificates of deposit were unchanged in Bankrate's weekly survey of CD rates. The five-year CD yield stayed at 0.82 ...

  • Where will mortgage rates head next week? - Thu, Dec 1, 2016 9:00 PM AEDT

    Will rates go up, down or remain unchanged? Intro Up 50% Down 20% Unchanged 30% Panel Prediction Up Down Unchanged 50% 20% 30% This week (Dec. 1-7), half of the panelists believe mortgage rates will rise ...

  • Experts give 50-50 odds Trump will face recession - Thu, Dec 1, 2016 9:00 PM AEDT

    The latest Bankrate Economic Indicator, our quarterly survey of economists, predicts that higher interest rates are in the offing, due to a highly likely December rate hike from the Federal Reserve and expectations of further increases in bond yields. The forecasters also see higher chances of a recession during the coming four years under President Donald Trump. "Spending running out of steam, debt rising, trade balance worsens, job growth slows," lists Bill Dunkelberg, chief economist for the National Federation of Independent Business.

  • Will your pay get better next year? See what experts say - Thu, Dec 1, 2016 9:00 PM AEDT

    Thomas Barwick/Getty Images The government's employment report for October showed a better-than-expected jump in Americans' pay. Average hourly earnings grew by 10 cents during the month to $25.92, which ...

  • How much does it cost to paint a car? - Wed, Nov 30, 2016 9:00 PM AEDT

    Basic: The most inexpensive paint job involves as few coats as possible, using synthetic enamel paint. Standard: The cost of a standard paint job usually includes sanding the body and removing rust before painting to get an attractive finish. For older vehicles, the cost of a professional paint job may be excessive.

  • How much does a tummy tuck cost? - Wed, Nov 30, 2016 9:00 PM AEDT

    A tummy tuck -- a procedure also known as abdominoplasty -- is typically performed as an elective surgery for patients who want a flat stomach. With this being elective surgery, how much does a tummy tuck cost? Who is a good candidate for a tummy tuck?

  • Do you have to pay back a reverse mortgage loan? - Wed, Nov 30, 2016 9:00 PM AEDT

    Unlike a regular home equity loan, you don't have to start paying the loan back after you borrow the money. A reverse mortgage loan allows you to take advantage of the financial value that you've built up in your home, often through years of making mortgage payments. With a reverse mortgage, it can be your heirs, whose inheritance is disappearing as you're collecting reverse mortgage payments.

  • Why some states are great for holiday-loving retirees - Tue, Nov 29, 2016 9:00 PM AEDT

    To help them out, we've used our Best States to Retire data -- plus a slew of statistics on shopping, charitable giving and even snowfall -- to put together a list of the best states for retirement if you love celebrating the holidays. RATE SEARCH: Sweeten your retirement savings now. On the other hand, regular top-10 retirement states Arizona and Virginia don't make this list, given their dearth of winter-wonderland cred.

  • Is it legal to claim a slew of allowances to pay less tax? - Tue, Nov 29, 2016 9:00 PM AEDT

    As an employee, you complete Form W-4, Employee's Withholding Allowance Certificate, so that your employer can withhold the correct federal income tax from your pay. When you look at the Form W-4 instructions, you will see that there is a "personal allowances worksheet." This is where you calculate the number of personal allowances you are claiming. It is really important if you are planning to claim the earned income tax credit or the additional child tax credit because the IRS is now required by law to withhold all refunds on those returns until Feb. 15.