Economy

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.

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

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

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.

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

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

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

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.

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

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