Interest Rates

  • High points from the Lowe hearing AAP - 5 hours ago

    Governor Philip Lowe was repeatedly asked about the merits of the Turnbull government's proposed tax cuts. With interest rates so low, Dr Lowe believes Australia should build transport infrastructure, describing it as a "first order gain". Dr Lowe described housing affordability as a big social issue concerning many parents, insisting many people spend too much of their income on housing.

  • RBA eyes 3pct economic growth in 2017 AAP - 8 hours ago
    RBA eyes 3pct economic growth in 2017

    The Reserve Bank of Australia still expects the economy to grow by about three per cent this calendar year. Governor Philip Lowe has told the federal parliament house economics committee growth will be bolstered by higher commodity prices, the end of the fall in mining investment and higher liquefied natural gas exports. "Looking forward, we still expect the Australian economy to grow by around 3 per cent this year and next," Dr Lowe said at the hearing in Sydney.

  • How to protect yourself from credit card fraud - 22 hours ago

    Media reports of credit card fraud are enough to get anyone's attention. In fact, Statistic Brain reports that approximately 10 percent of Americans have been victims of some form of credit card fraud. Instead, you should be familiar with credit card fraud so you know how to protect yourself.

  • Bankrate glossary: Amortization - 22 hours ago

    What is amortization? Amortization is the process of paying off debt with regular payments made over time. Amortization also refers to the practice of spreading out business expenses over the course of years, as opposed to paying them off all at once.

  • Bankrate glossary: Direct tax - 22 hours ago

    What is direct tax? For instance, your average American taxpayer pays personal property taxes, real property taxes and income taxes to the U.S. government, all of which are direct taxes. Direct taxes came about in 1913, when the 16th Amendment to the Constitution of the United States was passed, which permitted the federal government to levy numerous direct taxes.

  • Bethenny Frankel: A Skinnygirl with a hefty net worth - 22 hours ago

    Success didn't come easily to reality TV star Bethenny Frankel. Soon after graduating from NYU, she moved to Los Angeles to pursue a career as an actor. After a few years in L.A., Frankel moved back to New York, where she attended the Natural Gourmet Institute and began her own healthy cookie company.

  • Net worth of female exec and politician Carly Fiorina - 22 hours ago

    Savings Celebrity Net Worth Bob Levey/Getty Images Carly Fiorina Net worth: $59 million (as of February 2017) Year of birth: 1954 Education: Stanford University, Robert H. Smith School of Business at University ...

  • Arnold Schwarzenegger has built an imposing net worth - 22 hours ago

    Arnold Schwarzenegger was born in the small Austrian village of Thal, where his soccer coach first introduced him to bodybuilding in 1960. Schwarzenegger began building his net worth after learning about other Mr. Universe winners that had moved on to have successful careers in Hollywood, and he began working toward transforming into a famous bodybuilder.

  • Bankrate glossary: Medicaid - 22 hours ago

    What is Medicaid? Medicaid is a government-sponsored health program designed to ensure that low-income citizens receive quality health care. Medicaid is available only to families and individuals who meet the specified criteria.

  • Where will mortgage rates head next week? - 22 hours ago

    Will rates go up, down or remain unchanged? Intro Up 33% Down 17% Unchanged 50% Panel Prediction Up Down Unchanged 33% 17% 50% This week (Feb. 23-March 1), one-third of the panelists believe mortgage rates ...

  • Bankrate glossary: American opportunity tax credit - 22 hours ago

    What is the American opportunity tax credit? The American opportunity tax credit is a tax break that the government offers to eligible students for qualified education expenses. TheAmerican opportunity tax credit extends the Hope tax credit to 100 percent of qualified fees, tuition and course materials paid by the taxpayer within the taxable year.

  • Mortgage rates fall amid Fed rate hike hints - Wed, Feb 22, 2017 9:00 PM AEDT

    Glow Images, Inc/Mortgage rates drifted downward in a week in which minutes of the most recent Fed meeting loomed large. The Federal Reserve dropped the week's biggest bit of economic news when it released the minutes of its most recent monetary policy meeting. It seemed to hint that the Fed could increase short-term interest rates as early as its next meeting, in mid-March.

  • How country music icon Carrie Underwood built her wealth - Wed, Feb 22, 2017 9:00 PM AEDT

    Carrie Underwood grew up singing in church and talent shows, but a failed record contract in 2006 led her to study communications in college, and work in a zoo and veterinarian's office. Breaking records, her first single, "Inside Your Heaven," debuted at No. 1 on the Billboard Hot 100 chart, and Underwood became a major player in the world of country music.

  • Big Sean's net worth matches his huge talent - Wed, Feb 22, 2017 9:00 PM AEDT

    Savings Celebrity Net Worth John Sciulli /Getty Images Big Sean Net worth: $12 million Year of birth: 1988 Education: Cass Technical High School How Big Sean's net worth was built Big Sean is a rapper, ...

  • Net worth of the multitalented Amber Rose - Wed, Feb 22, 2017 9:00 PM AEDT

    Savings Celebrity Net Worth Bruce Glikas/Getty Images Amber Rose Net worth: $12 million(as of February 2017) Year of birth: 1983 Education: Unknown How Amber Rose's net worth was built Amber Rose is an ...

  • Bankrate glossary: Covenant - Wed, Feb 22, 2017 9:00 PM AEDT

    Often, lenders require a promise, known as a covenant, on the part of businesses that borrow money. Usually, these covenants include maximum debt-to-equity ratios that the company must observe, as well as items on the company balance sheet that must remain above or below a specific limit to comply with the covenant. Some of the areas where this applies to a company's assets include a minimum level of disclosure, a certain amount of insurance and the use of business liens only permitted by the lender.

  • How much do movers cost? - Wed, Feb 22, 2017 9:00 PM AEDT

    The time of year and even the day of the week also affect the cost of working with a moving company. Spring and summer tend to be the busy season for moving and movers. The average cost of a professional interstate move that covers 1,220 miles is $5,630, according to the American Moving and Storage Association.

  • Survey: Americans losing battle between savings, debt - Wed, Feb 22, 2017 9:00 PM AEDT

    Bryan Layman was like many young adults when he got his first credit card. Now Layman is carrying $16,000 in credit card debt and has about $1,000 in emergency savings. Layman is not alone in these struggles.

  • Bankrate glossary: Progressive Tax - Wed, Feb 22, 2017 9:00 PM AEDT

    While almost everyone who earns enough money pays some sort of income tax, the type of tax you owe primarily determines the amount you pay. A progressive tax takes a larger percentage of your income as your income grows. A progressive tax also comes into play when purchasing goods, with luxury items carrying higher taxes when you buy them.

  • Ways to electronically file your tax return - Wed, Feb 22, 2017 9:00 PM AEDT

    Clearly, efforts by the IRS to encourage electronic filing are proving effective. Not surprisingly, e-filing comes in two waves: early filers, who generally are getting tax money back and like the speed e-filing offers in getting the refund process going, and taxpayers who wait until just before the tax deadline to hit the "enter" key. In most cases, the computer filing programs have all the forms you'll need and they are regularly updated.

  • Singer Alicia Keys: Girl on fire with a high net worth - Wed, Feb 22, 2017 9:00 PM AEDT

    Alicia Keys' appearance on "The Cosby Show" when she was just 4 years old led to bigger things for this native New Yorker. At the age of 16, Keys graduated as valedictorian from the Professional Performance Arts School in New York and briefly signed with Columbia Records until she aligned herself with record producer Clive Davis.

  • Wage growth remains sub-two per cent AAP - Wed, Feb 22, 2017 3:09 PM AEDT

    Reserve Bank governor Philip Lowe expects wage increases are likely to remain below average for some time yet. "Our liaison with businesses does not suggest that a pick-up in wage growth is imminent, but nor does it suggest that a further slowing is in prospect," Dr Lowe told a breakfast conference in Sydney on Wednesday. Furthermore, the breakdown of the figures may have left Dr Lowe a little disappointed.

  • Solid growth still likely in 2017: Westpac AAP - Wed, Feb 22, 2017 10:58 AM AEDT

    Economic growth of 3.0 per cent is still likely this year despite the outlook being slightly more downbeat in January, Westpac says. The Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, fell to 1.30 per cent in January, from 1.36 per cent in December. Westpac chief economist Bill Evans said the index, being at or above trend for six consecutive months, indicated economic growth in the current calendar year will be close to the Reserve Bank's forecast of 3.0 per cent.

  • Aust market set to open sharply higher AAP - Wed, Feb 22, 2017 7:15 AM AEDT

    The Australian market looks set to open sharply higher, following strong gains on Wall Street on the view the Federal Reserve might raise its key interest rate in March.. At 0700 AEDT on Wednesday, the ...

  • Wages data unlikely to soothe RBA concerns AAP - Wed, Feb 22, 2017 3:31 AM AEDT

    The Reserve Bank is fairly upbeat about the economic outlook, but it has warned subdued household income growth is likely to constrain spending. The benign result is a key factor that will keep inflation equally subdued and the Reserve Bank's cash rate at a record low 1.5 per cent for a while yet. In the minutes of the Reserve Bank's February 7 board meeting released on Tuesday, the central bank otherwise remains positive about the outlook after the unexpected growth contraction during the September quarter last year.

  • You'll be 'Jealous' when you see Nick Jonas' net worth - Tue, Feb 21, 2017 9:00 PM AEDT

    Savings Celebrity Net Worth Frazer Harrison/Getty Images Nick Jonas Net worth: $25 million (as of February 2017) Year of birth: 1992 Education: homeschooled; Eastern Christian Academy How Nick Jonas' net ...

  • Bankrate glossary: Tax Deduction - Tue, Feb 21, 2017 9:00 PM AEDT

    A tax deduction reduces how much of a taxpayer's income is subject to tax. The tax system gives a taxpayer a choice of adding up all his deductible expenses -- evidence to those expenses should be provided to the IRS -- or simply deducting a flat amount (standard deductions). Deductions lower a taxpayer's taxable income by the percentage of his or her highest federal income tax bracket.

  • Bankrate glossary: Assets - Tue, Feb 21, 2017 9:00 PM AEDT

    Assets are resources or things with monetary value that are owned by individuals, governments and companies. In business and accounting, assets are economic resources that can be controlled by a person or organization. Examples of assets include cash, real property, personal property, investments, contracts, patents and copyrights.

  • Bankrate glossary: Draw - Tue, Feb 21, 2017 9:00 PM AEDT

    A draw is a payment taken from construction loan proceeds made to material suppliers, contractors and subcontractors. Each lending institution has different requirements for requesting a draw. How does a draw work?

  • See how actress and singer Ciara built her net worth - Tue, Feb 21, 2017 9:00 PM AEDT

    Ciara started her career in music well before she graduated from high school. As a teenager, she had a publishing deal and first gained a bit of recognition by writing the song "Got Me Waiting" for "American Idol" winner Fantasia Barrino.

  • Construction to add to economic growth AAP - Tue, Feb 21, 2017 7:53 PM AEDT
    Construction to add to economic growth

    The Reserve Bank of Australia says the construction of non-residential buildings will likely provide a boost to economic growth by the end of 2018. Non-mining business investment has failed to fill the ...

  • First home buyers on struggle street AAP - Tue, Feb 21, 2017 3:05 PM AEDT

    Sluggish wages growth and rising living expenses will keep many Australians locked out of home ownership, even as interest rates remain low, an international ratings agency says. In its latest Global Housing and Mortgage Outlook report, FitchRatings says it expects house prices to cool in Australia this year, tipping growth to slow to between three to five per cent, compared with 10.9 per cent as at December 2016. Growth in mortgage lending in line with home price rises has pushed Australia's household debt to 123 per cent of GDP, trailing only Denmark.

  • Confidence falls on weak jobs market AAP - Tue, Feb 21, 2017 10:06 AM AEDT

    Consumer confidence has fallen for a third straight week, a survey shows, with worries about job security the likely cause of concerns. The latest ANZ-Roy Morgan Australian Consumer Confidence Survey shows that sentiment fell 2.3 per cent to 113.7 in the week ended February 19, remaining above the 100-point level separating confidence and pessimism. ANZ's head of Australian economics David Plank said the fall in confidence was surprising given recent economic data has been broadly positive.

  • Consumer confidence down for third week AAP - Tue, Feb 21, 2017 9:31 AM AEDT

    Confidence has fallen for a third straight week with consumers concerned about their current finances and the wider economic outlook. The ANZ-Roy Morgan Australian Consumer Confidence Survey shows that ...

  • The Australian market is set to open flat AAP - Tue, Feb 21, 2017 7:26 AM AEDT

    The Australian market looks set to open flat ahead of the release of the Reserve Bank's February board meeting minutes, and with no guidance from Wall Street where markets were closed for the Presidents ...