Interest Rates

  • Aussie bonds rise on recession talk AAP - 17 hours ago

    Australian bond futures prices have firmed on fears the nation is heading into a recession. Investors are still reacting to Thursday's poor business investment figures, UBS interest rate strategist Matthew ...

  • RBA rate cut unlikely, experts say AAP - 21 hours ago
    RBA rate cut unlikely, experts say

    The Reserve Bank is unlikely to cut rates further next week as it balances the need to boost economic growth while keeping Sydney and Melbourne house prices under control. Market pricing for a June rate cut has remained at just four per cent this week, despite Thursday's downbeat capex data which showed business investment slumped in the March quarter, and will likely fall further in the coming financial year. Nine out of 12 economists surveyed by AAP expect the cash rate to remain steady on Tuesday, but 10 of them tip a move by the end of the year.

  • Most homeowners missing out on low rates AAP - 23 hours ago

    Most homeowners are missing out on the full benefits of record low interest rates by failing to refinance their mortgage, financial services veteran Mark Bouris says. A survey of 1,000 Australians who took out a home loan more than two years ago shows almost half have never changed the terms of their mortgage. A further 25 per cent had not refinanced since interest rates began to fall almost four years ago, according to Mr Bouris' financial services firm Yellow Brick Road.

  • Freshman econ lessons that will save you money Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Understanding a few basic economics concepts can help you be a better saver, smarter investor and savvier consumer. In a previous column, I covered three key Econ 101 ideas : sunk cost, opportunity cost ...

  • Your ZIP code could be costing you hundreds more in auto insurance Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Can you imagine moving just a few blocks to a new home and seeing as much as a 64 percent difference in your auto insurance premium? While a number of factors can influence an auto insurance quote, including your age, the make and model of your car, your driving habits and your credit score, where you live -- and specifically your ZIP code -- may have more of an effect on your insurance rates than you think, a Bankrate survey finds. You can get vastly different quotes from the same insurance company at two addresses a relatively short distance apart but in different ZIP codes.

  • Mortgage rates edge downward after 4-week rise Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    The rate on the most popular mortgage finally backed down after four straight weeks of increases, persuading some people to borrow. But rates are still about an eighth of a percentage point higher than ...

  • When does old debt fall off your credit report? Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Here's how you know if a debt has vanished: Check your credit reports. When is the last time you checked your credit report? You can also check your credit reports from the three major credit bureaus -- Equifax, Experian and TransUnion -- for free once each year.

  • Credit card interest rates for May 28, 2015 Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Interest Rate Roundup Find the best credit card offers available. Credit Cards All fixed: 13.02% All variable: 15.85% Credit card rates were unchanged again this week in Bankrate's survey of national interest ...

  • Confessions of an insurance investigator Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Ever wonder what it's like to be an insurance claims adjuster? During my recovery, I started looking at what I could do in the private sector and wound up hiring on with Allstate, handling automobile claims. You come in every day and you have a list of automobile claims assigned to you from the 24-hour hotline.

  • Where will mortgage rates head next week? Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Will rates go up, down or remain unchanged? Intro Up 17% Down 58% Unchanged 25% Panel Prediction Up Down Unchanged 17% 58% 25% This week (May 28-June 3), 17 percent of the panelists believe mortgage rates ...

  • Tax loopholes for using 401(k) to pay off house? Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Seven months ago (before I knew about my termination), my wife and I decided to extract $180,000 to pay off the mortgage of our only residence in preparation for retirement. In addition to the 20 percent I paid when receiving the withdrawal to pay off our mortgage, IRS is asking for another $15,000. Question: Are there any tax loopholes available, because we, in effect, rolled the money into our home?

  • Home equity loan rates for May 28, 2015 Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Interest Rate Roundup Find the best home equity rates in your area. Home Equity Line of credit: 4.75% Loan: 6% Rates on loans backed by home equity barely moved this week, according to Bankrate's latest ...

  • CD rates for May 28, 2015 Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Interest Rate Roundup Compare CD rates nationally and in your area. CDs 1-year CD yields: 0.27% 5-year CD yields: 0.86% Rates on certificates of deposit took a holiday this week along with many of the ...

  • Auto loan rates for May 28, 2015 Bankrate.com - Thu, May 28, 2015 8:00 PM AEST

    Interest Rate Roundup Find the best auto rates in your area. Auto Loans 60-month, new car: 4.37% 36-month, used car: 5.19% Auto loan rates dipped slightly this week, according to Bankrate's latest survey ...

  • Capex fall revives rate cut hopes AAP - Thu, May 28, 2015 7:24 PM AEST
    Capex fall revives rate cut hopes

    The chances of another interest rate cut have been given a boost, with new data showing business investment slumped in the first three months of the year. Business investment fell by 4.4 per cent in the March quarter, worse than economists' forecasts of a 2.4 per cent fall, official figures released on Thursday showed. The Australian Bureau of Statistics figures, which cover investment in capital goods like buildings and equipment, also showed a decline in the outlook for future investment.

  • The case against taking Social Security at 62 Bankrate.com - Wed, May 27, 2015 8:00 PM AEST

    Taylor Gang, a principal at Evensky and Katz/Foldes Financial Wealth Management, recommends amassing an amount equal to three months of spending if you're married, and six months if you're single. 2. Apply for unemployment insurance. Basically, if you were fired for a reason having nothing to do with you, such as a weak economy, or even if it's because of inadequate performance, you're likely entitled to unemployment compensation.

  • Jail time? I cashed late husband's Social Security Bankrate.com - Wed, May 27, 2015 8:00 PM AEST

    You may have seen the "60 Minutes" piece in March, showing a woman who expects to serve jail time for continuing to collect her deceased mother's Social Security disability benefit for decades after her mom died. You'll have to provide the Social Security Administration with a copy of your husband's death certificate.

  • RBA backs APRA on property rules AAP - Wed, May 27, 2015 2:08 PM AEST

    The Reserve Bank says there's no need to implement tough New Zealand-style property rules to help keep a lid on Sydney and Melbourne's housing boom. The New Zealand government recently announced a number of new property market rules in a bid to cool house prices in Auckland, including a 33 per cent tax on any property bought or sold within two years. Asked if similar macro prudential rules were needed to rein in house prices in Sydney and Melbourne, RBA deputy governor Philip Lowe on Wednesday backed the current regime and regulatory approach.

  • US rate hikes good for Aussie dollar: RBA AAP - Wed, May 27, 2015 12:05 PM AEST

    The Reserve Bank has welcomed indications the US Federal Reserve will hike interest rates later this year, saying such a move will probably weaken the Australian dollar. RBA deputy governor Philip Lowe says comments last week from US Federal Reserve chair Janet Yellen that the Fed's funds rate would rise later in 2015 was good news for the future direction of the local currency. "At some point when they (US Fed) raise interest rates the US dollar will probably strengthen further against the Australian dollar," Mr Lowe told the Thomson Reuters Australian Regulatory Summit on Wednesday.

  • Australian property is more than 25 per cent overvalued: The Economist Yahoo7 Moneyhound - Wed, May 27, 2015 11:00 AM AEST
    Australian property is more than 25 per cent overvalued: The Economist

    Australia ranks second most expensive in global house prices, with The Economist saying property in Australia is 25 per cent overvalued. What does this mean for you if you are looking to buy or sell in the current market?

  • Australian market set to open lower AAP - Wed, May 27, 2015 6:58 AM AEST

    The Australian stock market looks set to open lower following sharp losses on Wall Street. At 0650 AEST on Wednesday, the June share price index futures contract was down 30 points at 5,748. Wall Street ...

  • Stricter loans to cool property market AAP - Tue, May 26, 2015 8:08 PM AEST
    Stricter loans to cool property market

    Banks are becoming less free and easy with their investor home loans, and that could cool the property market a little and give the RBA less reason to lift interest rates. In a report on Tuesday, ANZ Bank economists David Cannington and Felicity Emmett say it is difficult to calculate exactly how much these changes will affect the supply of mortgages.

  • Can you save money by buying diapers online? Bankrate.com - Tue, May 26, 2015 8:00 PM AEST

    Think small packages and convenience stores, says Megan Presley, a family and consumer sciences teacher at Colquitt County High School and mother in Moultrie, Georgia. "The smaller packages are crazy expensive when you think about the unit price," Presley says. The average American baby will go through 8,000 diapers before potty training, according to the Environmental Protection Agency -- very young children can use as many as 10 diapers every day.

  • What's the riskiest stock in your 401(k)? Bankrate.com - Tue, May 26, 2015 8:00 PM AEST

    No matter how much you love the company you work for, having too much of its stock in your retirement plan is a risk that's rarely worth taking. Most financial planners will tell you that company stock should represent no more than 20 percent of your holdings. Lee Rosenberg, CFP professional and president of American Investment Planners in Jericho, New York, says he's more comfortable with a 10 percent max. As he notes, most large, well-managed mutual funds rarely have more than 2 to 5 percent in any single stock.

  • What can creditors take in a bankruptcy? Bankrate.com - Tue, May 26, 2015 8:00 PM AEST

    If I file Chapter 7 bankruptcy, can my creditors such as banks (for my credit cards) take my personal belongings such as jewelry, clothes or furniture? Your question is tough to specifically answer only because every state has different and distinct bankruptcy laws.

  • Aust bonds flat in quiet trade AAP - Tue, May 26, 2015 8:53 AM AEST

    The Australian bond market is mostly flat after a quiet night of trade with US and most European markets closed for public holidays. St George senior economist Janu Chan said Greece's negotiations with ...

  • Why you need life insurance at midlife Bankrate.com - Mon, May 25, 2015 8:00 PM AEST

    Fear of a loan denial has led some consumers with low credit scores to simply not bother applying for a mortgage. "Your credit score is a piece in the qualification puzzle, but it's not the whole puzzle," says Josh Moffitt, president of Silverton Mortgage Specialists in Atlanta. The best mortgage rates and terms go to borrowers with credit scores of 740 and higher.

  • Australian bond futures mixed on US data AAP - Mon, May 25, 2015 4:44 PM AEST

    The Australian bond market is mixed after falling slightly on increased prospects of a US interest rate hike this year. Local bond futures prices traded within a narrow range on Monday, lacking any major ...

  • Banks reap extra $2.1b on credit cards AAP - Mon, May 25, 2015 4:39 PM AEST
    Banks reap extra $2.1b on credit cards

    Banks have reaped an extra $2.1 billion in the past four years by not passing on interest rate cuts to credit card customers. Comparison website creditcardfinder.com.au says the average credit card purchase rate has remained stuck at 17 per cent since the Reserve Bank began cutting its cash rate in November 2011. If the full 2.25 percentage points worth of RBA cuts had been passed on to credit card holders, they would have paid $2.1 billion less in interest as the average card rate would have dropped to 14.25 per cent.

  • Credit cardholders dip out on rate cuts AAP - Mon, May 25, 2015 2:49 PM AEST
    Credit cardholders dip out on rate cuts

    Credit cardholders have paid an extra $2.11 billion in interest charges in the past four years because many banks have not passed on interest rate cuts. Credit card comparison website creditcardfinder.com.au says the average credit card purchase rate has remained at 17 percent since the Reserve Bank began cutting the cash rate in November 2011. If the full 2.25 percentage point cuts were passed on to credit cardholders in the past four years, the average credit card purchase rate would now be 14.25 percent, the company says.

  • Grandma check: How much to give grandkids? Bankrate.com - Fri, May 22, 2015 8:00 PM AEST

    Fear of a loan denial has led some consumers with low credit scores to simply not bother applying for a mortgage. "Your credit score is a piece in the qualification puzzle, but it's not the whole puzzle," says Josh Moffitt, president of Silverton Mortgage Specialists in Atlanta. The best mortgage rates and terms go to borrowers with credit scores of 740 and higher.

  • Can you get a mortgage with a low credit score? Bankrate.com - Fri, May 22, 2015 8:00 PM AEST

    Fear of a loan denial has led some consumers with low credit scores to simply not bother applying for a mortgage. "Your credit score is a piece in the qualification puzzle, but it's not the whole puzzle," says Josh Moffitt, president of Silverton Mortgage Specialists in Atlanta. The higher the score, the more able and willing a consumer is to repay a loan, lenders believe.

  • What are the rules for a spouse who inherits IRA? Bankrate.com - Thu, May 21, 2015 8:00 PM AEST

    If my spouse passes away, and I'm only 35 years old, would I have to pay an additional 10 percent above my regular income tax on the distribution from his IRA? You can designate yourself as the owner of the IRA. This means that you determine the required minimum distribution, or RMD, as if you were the owner beginning with the year you make this election.

  • National mortgage rates for May 21, 2015 Bankrate.com - Thu, May 21, 2015 8:00 PM AEST

    Interest Rate Roundup Find the best mortgage rates in your area. Mortgages 30-year fixed: 4.03% Average points: 0.23 Mortgage rates rose this week, according to Bankrate's latest survey of interest rates. ...

  • The risks of home construction loans explained Bankrate.com - Thu, May 21, 2015 8:00 PM AEST

    With these loans, the lender advances the money to pay for construction. After the home is built, the same lender rolls the loan balance into a standard mortgage. With these loans, it's often the lender that advances money to build the house.