Interest Rates

  • Economy on track for moderate growth: RBA AAP - 35 minutes ago

    Australia's economy is on track for moderate growth despite a better-than-expected pickup recently, Reserve Bank governor Glenn Stevens says. Addressing a business function on Wednesday, Mr Stevens said the September quarter result would be welcomed. "Let's not overplay the significance, but the economy is growing and I think that the outlook for continued moderate growth, you would still say that's the outlook based on this incremental bit of additional information," he said.

  • Aust bonds firmerr after US data AAP - 3 hours ago

    The Australian bond market is firmer on easing expectations about how high the US Federal Reserve will raise its interest rate in the coming months. An Institute for Supply Management report out overnight showed that US manufacturing activity in November contracted for the first time in three years. St George senior economist Jo Horton said US Treasuries strengthened following the data.

  • Which mortgage is for you? Conventional, FHA, VA - 15 hours ago

    Know these 3 loan types before you go mortgage shopping. Conventional loans Who they're for: Conventional mortgages are ideal for borrowers with good or excellent credit. Find the best mortgage deals in ...

  • Can't get a HELOC. Should I try a personal loan? - 15 hours ago

    Should I get a personal loan online or go to a bank for a bank loan? When you're using a personal loan to consolidate debts, a longer term gets you lower monthly payments, but you'll have a higher interest rate. You also want to know about the fees and expenses associated with your personal loan.

  • Owe tax on my portion of home deeded to siblings? - 15 hours ago

    Dear Tax Talk, My parents signed the deed of their home over to my siblings and me more than 10 years ago. My mother died 6 years ago, but my father is still living and has remarried. He is living with ...

  • List of FHA upfront and annual premiums - 15 hours ago

    FHA mortgages are home loans insured by the Federal Housing Administration. They have flexible lending standards to help: People whose house payments will be a big chunk of take-home pay. Borrowers with ...

  • Do personal loans beat alternatives? - 15 hours ago

    The average personal loan rate has decreased 6.7 percentage points since the beginning of 2015 10.27%, while demand at credit unions has increased 4%, according to Perc Pineda, senior economist at Credit Union Association. "Personal loans give you flexibility," says John Ulzheimer, a credit expert formerly with FICO and Equifax. Homeowners considering taking out a personal loan may also consider tapping home equity instead, either through a line of credit, or HELOC, a 2nd mortgage, or a cash-out refinance.

  • HOA dues still due after bankruptcy filing? - 15 hours ago

    The bankruptcy code specifically covers this issue. The code states that all "fees or assessments that become due and payable ... to a membership ... or homeowners association" after filing for bankruptcy protection are exempt from discharge. It is also important to mention that you are responsible for pre- and post-filing HOA dues when you are keeping your condo.

  • Bonds weaken as RBA leaves rates on hold AAP - 19 hours ago

    The Australian bond market is weaker after the central bank left the cash rate on hold. The Reserve Bank left the cash rate at a record low of two per cent for a seventh straight month, but has signalled ...

  • No Christmas rates cheer from RBA AAP - 19 hours ago
    No Christmas rates cheer from RBA

    The Reserve Bank has refused to play Santa for homeowners this Christmas. Ahead of the meeting, RBA governor Glenn Stevens had urged economists to "chill out" about rate cuts. St George bank's senior economist Janu Chan said while there was little in the RBA's statement to suggest it would move interest rates in the near term, a lot can happen between now and when the board next meets in February.

  • Eyes on growth as confidence eases AAP - 20 hours ago

    New consumer confidence figures suggest that Malcolm Turnbull's honeymoon period as prime minister is on the wane. September quarter national accounts, due for release on Wednesday, are expected to show a solid growth result for the September quarter buoyed by a surge in exports. "Ultimately, the labour market will continue to be a key factor driving both confidence and the (Reserve Bank) rates decision," ANZ chief economist Warren Hogan said.

  • Construction boom to flow into 2016 AAP - 21 hours ago
    Construction boom to flow into 2016

    Australia's residential construction boom is on track to run into 2016, with home building approvals posting an unexpected rise in October. Commonwealth Bank of Australia economist Gareth Aird said a couple of large apartment blocks may blow the figures out but the overall trend is still strong. "The data shows that the pipeline of residential construction to come remains deep," he said.

  • RBA leaves cash rate on hold AAP - 22 hours ago
    RBA leaves cash rate on hold

    The Reserve Bank has left the cash rate unchanged at a record low of two per cent. MORE TO COME

  • RBA keeps rates on hold again Yahoo7 Finance - 22 hours ago
    RBA keeps rates on hold again

    The Reserve Bank has decided to keep interest rates on hold at 2.0 per cent for a sixth consecutive month at its last board meeting of the year.

  • Building approvals rise in Oct AAP - Tue, Dec 1, 2015 11:32 AM AEDT
    Building approvals rise in Oct

    Approvals for the construction of new homes rose 3.9 per cent in October, which was much better than market expectations of a three per cent fall. Over the 12 months to October, building approvals were up 12.3 per cent, the Australian Bureau of Statistics said on Tuesday.

  • Home values fall 1.5% in November AAP - Tue, Dec 1, 2015 11:02 AM AEDT
    Home values fall 1.5% in November

    Home values across Australia's capital cities dropped 1.5 per cent in November, with both the Sydney and Melbourne markets going backwards. Five out of the nation's eight capitals suffered falls, with ...

  • House values plunge across Australia Yahoo7 Finance - Tue, Dec 1, 2015 10:00 AM AEDT
    House values plunge across Australia

    Dwelling values fell across five of the eight capital cities in Australia during November, according to CoreLogic RP Data November Home Value Index.

  • Sydney Home Prices Drop Most in Five Years as Regulation Bites Bloomberg - Tue, Dec 1, 2015 10:00 AM AEDT
    Sydney Home Prices Drop Most in Five Years as Regulation Bites

    Sydney home prices fell the most in five years in November as a regulatory crackdown forces banks to tighten lending and increase mortgage rates.

  • Aust bonds firmer ahead of RBA decision AAP - Tue, Dec 1, 2015 9:05 AM AEDT

    The Australian bond market is slightly firmer ahead of the Reserve Bank board meeting and interest rate decision. St George chief economist Hans Kunnen said there'd been scant movement in US and Australian ...

  • Australian interest rates held at historic low AFP - Tue, Dec 1, 2015 8:13 AM AEDT
    Australian interest rates held at historic low

    Australia's central bank kept interest rates at the historic low of 2.0 percent for a seventh month Tuesday, but indicated further easing could be in the pipeline. The Reserve Bank of Australia (RBA) had been widely expected to hold rates steady after governor Glenn Stevens last week urged people to "chill out" and adopt a wait-and-see approach. While growth remained below trend, Australia's economy appeared to be undergoing moderate expansion, despite "a large decline in capital spending in the mining sector", Stevens said.

  • Shoppers no less fickle heading to Xmas AAP - Tue, Dec 1, 2015 3:31 AM AEDT

    Just because consumer confidence has improved since Malcolm Turnbull became prime minister, it doesn't mean shoppers have become any less fickle. Rather than going on a huge, unrestrained Christmas shopping spree as rising confidence would suggest, a new survey by American Express has found that more than a third of Australians intend to spend less than $200 on presents.

  • No rate cuts, at least until next year AAP - Tue, Dec 1, 2015 3:31 AM AEDT

    The Reserve Bank is chilling out on cutting the cash rate - at least until next year. All 13 economists surveyed by AAP expect the RBA to keep the cash rate at two per cent at its December meeting on Tuesday, but six are predicting that there will be a cut early in 2016. In a speech last week, RBA governor Glenn Stevens indicated that he is is still prepared to reduce the cash rate again, if needed, after cutting it in February and May.

  • How to help your children retire millionaires - Mon, Nov 30, 2015 9:00 PM AEDT
    How to help your children retire millionaires

    Unlike a traditional IRA, contributions to a Roth don't earn a tax deduction, but the account's earnings will compound tax-deferred and be available for tax-free withdrawals when your child retires in, let's say, 2075. A Roth can be funded only with earned income, so you can't simply give a kid the cash. Foss, who set up Roth IRAs for 2 of her own children, says the key is that the job and the hours be appropriate for someone of that age.

  • 2 reasons to stop putting off a 401(k) rollover - Mon, Nov 30, 2015 9:00 PM AEDT

    Before you focus your attention on climbing the corporate ladder, don't forget to take care of what you left behind: your 401(k). "The most important reason to roll over your 401(k) right away when you switch jobs is that young people who procrastinate sometimes forget about their retirement funds," says David Weliver, a financial journalist and founder of the MoneyUnder30 website. "That control is crucial because some companies don't want to keep a 401(k) with a low balance for you and they may just issue you a check," says Weliver.

  • Investor housing lending slows AAP - Mon, Nov 30, 2015 12:38 PM AEDT

    Investor housing credit has slowed to less than the speed limit set last year by the financial regulator, but demand for credit rose overall. After a monthly rise of 0.4 per cent, the slowest for two and a half years, investor housing loans owed to domestic Australian lenders rose 9.7 per cent over the year to October, below 10 per cent for the first time since September 2014. In December, the Australian Prudential Regulation Authority warned lenders not to grow their investor loan books by more than 10 per cent annually.

  • Investor housing credit growth slows AAP - Mon, Nov 30, 2015 12:32 PM AEDT

    Growth in investor housing credit has retreated to the safe side of the financial regulator's line in the sand. The value of credit outstanding to housing investors rose 9.7 per cent over the year to October, below the 10 per cent limit set by Australian Prudential Regulation Authority the last year, according to figures Reserve Bank of Australia figurers released on Monday.

  • Inflation stays below RBA's target band AAP - Mon, Nov 30, 2015 11:37 AM AEDT
    Inflation stays below RBA's target band

    The annual rate of inflation is staying well below the Reserve Bank's two to three per cent target, but the bank is unlikely to take the option of cutting the cash rate. Consumer prices were up 0.1 per cent in November, after a flat result in October, according to the TD Securities/Melbourne Institute monthly inflation gauge. The annual rate of inflation was 1.8 per cent in November, and has stayed below two per cent all year.

  • Aust bonds flat in directionless trade AAP - Mon, Nov 30, 2015 8:50 AM AEDT

    The Australian bond market is flat after quiet trading in a session stuck between the US Thanksgiving day public holiday and the weekend. National Australia Bank global co-head of FX strategy said there ...

  • $A weighed down by weak data, commodities AAP - Mon, Nov 30, 2015 7:25 AM AEDT

    The Australian dollar has fallen below 72 US cents as last week's weak business investment figures and falling commodity prices weigh on the currency. Brown Brothers Harriman global head of currency strategy Marc Chandler says the Australian dollar hasn't been able to gain any ground after the disappointing September quarter capital expenditure (capex) figure. "The capex figures stopped the Australian dollar's rally cold in its tracks after making a new high," he said.

  • Academics say no to rate change Yahoo7 Finance - Mon, Nov 30, 2015 3:31 AM AEDT
    Academics say no to rate change

    Academics do not expect the Reserve Bank to cut the cash rate when its board meets for the final time this year despite the drop in the jobless rate. The cash rate has remained at a record low of two per cent since May. The Australian National University's Timo Henckel said despite a big drop in Australia's unemployment rate from 6.2 to 5.9 per cent in October, annual inflation was well contained and economic growth remained soft.

  • Replace engine coolant with same color fluid? - Fri, Nov 27, 2015 9:00 PM AEDT

    Your mechanic is right that all vital fluids, including coolant, should be checked regularly to prevent problems that leave you stranded on the roadside. As far as your car's engine coolant, the color of the fluid is not related to the type of fluid. In the old days, it was easy to identify your car's vital fluids -- coolant was neon green, transmission fluid was pink, oil was brown and windshield washer fluid was blue.

  • Use home equity or cash to buy 2nd home? - Fri, Nov 27, 2015 9:00 PM AEDT

    Without tying up your cash reserves, the least expensive option to finance a 2nd home is probably taking out a home equity line of credit, or HELOC, on the 1st one for a down payment on the 2nd. As for a mortgage on the 2nd home, interest rates should be substantially lower if you kick in a high down payment (20%-30%), plus you'll pay off the loan faster. If you have some provable cash reserves for emergencies, the loan on the 2nd home should be a cinch.

  • How to avoid ID theft in your 60s and beyond - Fri, Nov 27, 2015 9:00 PM AEDT

    By age 60, you're likely to have a well-established credit history, a home with built-up equity, and debt nearly paid off. "When (an identity thief) wants to go get credit, they want to use a senior's identity because there's a higher probability that they'll get a bigger limit," Salter says. Before you hire an in-home caregiver, make sure that person has undergone a thorough background check.

  • Aust bonds rally ends AAP - Fri, Nov 27, 2015 5:23 PM AEDT

    The Australian bond market has lost a little ground amid profit taking after enjoying several days of gains during the week. Aussie bond futures prices rose on Tuesday, Wednesday and Thursday because of ...

  • Do I include income from inheritance on tax form? - Thu, Nov 26, 2015 9:00 PM AEDT

    Remember, your basis is reported at the fair market value on the date of death, so this should hopefully help minimize any tax gain you might have. What is cost basis? Cost basis is the original value of an asset (generally the purchase price), plus any commission, adjusted for stock splits, dividends and capital distributions.