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Economy

Major banks reduce savings rates

Two of the big four banks have slashed the interest rates they pay on savings accounts, a week after passing on the Reserve Bank’s 25-basis-point cash rate cut to borrowers.

CBA NAB
Mutual slashes variable rates

Teachers Mutual Bank has dropped its variable mortgage rates, becoming the latest lender to cut its rates following the RBA’s rate move. 

Teachers Mutual Bank
Consumers more pessimistic despite RBA rate cut

Consumers are more pessimistic about the economy following the Reserve Bank’s rate cut in June, according to new survey results.

Westpac
Home price slide slowing in most expensive locations

The upper quartile of the housing market has suffered the sharpest declines in dwelling values, but according to CoreLogic, prices in that segment are slowly returning to equilibrium.

Aerial shot of luxury properties
TMB expands home loan offering to investors

The mutual bank has announced the introduction of a new investment home loan product.

Teachers Mutual Bank
A third of Aussies looking to buy a home this year

More than a third of Australians plan on purchasing a home this year, new ME research has found.

House
Credit card debt falls to 11-year low

Debt accruing interest on personal credit cards have fallen to its lowest figure since 2007, new RBA data has revealed.

Credit cards
Median house prices ‘treble’ over past two decades

Over the past 20 years, dwelling values have tripled in value across 111 locations in both capital city and regional markets, new research has revealed.

Suburbs
UNSW researchers to study reverse mortgages

Reverse mortgages will be put under the microscope by UNSW Business School researchers looking to understand the reasons for their low uptake.

UNSW Business school
HIA names new national president

Simon Norris has been elected as the Housing Industry Association’s new national president.

Simon Norris
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