Tag: financial planning book
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RBA Meeting: Anticipation Grows for Potential Rate Cut Impact
The Reserve Bank of Australia (RBA) is set to convene for its next meeting to deliberate on potential adjustments to the cash rate target. These meetings, held eight times annually, hold significant weight as their outcomes ripple through the financial landscape affecting many Australians directly or indirectly. The Ultimate Guide for Home Buyers in Australia…
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Homeowners Urged to Review Loans Amid Tax Season Surge
As the financial year comes to a close, many individuals turn their attention to their financial standing, particularly those with property investments gearing up for tax assessments. Given that a home loan is often a significant financial commitment, this juncture presents an opportune moment to evaluate the adequacy of your existing loan in meeting your…
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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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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…
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RBA Cuts Cash Rate, Offering Relief to Homeowners in 2025
Interest rates are a crucial aspect of the economy, impacting various financial products like home loans. The Reserve Bank of Australia (RBA) plays a significant role in setting the cash rate, affecting borrowing costs for consumers. The recent cut in the cash rate to 3.85% following the May 2025 monetary policy meeting has brought some…
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Australian Lenders Slash Rates, Fueling Home Loan Market Competition
Australia’s home loan market witnessed a significant wave of rate cuts recently, with 31 lenders reducing 306 owner-occupier and investor variable rates by an average of 0.27%, according to the latest Weekly Rate Wrap-up by Canstar. Additionally, 11 lenders made cuts to 279 fixed rates, with an even more substantial average reduction of 0.85%. The…