Tag: budgeting software
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Australian Banks’ Lucrative Home Loan Profits Spark Regulatory Concerns
Home lending is a lucrative business in Australia, with the big four banks raking in substantial profits from owner-occupier housing loans. According to recent research by the Australia Institute, these banks make an average profit of $200,880 on a 30-year home loan. This profit margin is significantly higher than the global average, showcasing the profitability…
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NAB Reduces Home Loan Rates to Aid Customers Amid Economic Shifts
NAB has recently announced a reduction in its standard variable home loan interest rate by 0.25% per annum, effective from the end of May 2025. This decision comes in response to the Reserve Bank of Australia’s move to lower the official cash rate, offering relief to customers grappling with the ongoing challenges of living costs.…
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Homeowners Consider Refinancing Amid Record-Low Interest Rates
Following the recent interest rate cut by the Reserve Bank of Australia, homeowners are contemplating refinancing their home loans to capitalize on potential savings. With the target cash rate now at its lowest since May 2023, major banks swiftly announced passing on the rate cut benefits to borrowers, prompting many to consider their options. The…