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The Latest Breaking News from Canstar

Mortgage holders brace for more interest rate pain

The Reserve Bank is expected to hike interest rates again this week and turn up the heat on already stretched household finances.

AAP

Australia’s big banks are passing on all the interest rates hikes – but not the cuts

While the banks have been quick to pass on RBA’s every cash rate increase, they have not matched all the decreases since June 2019

The Guardian - AU

Hefty pay rises required to beat inflation

The soaring cost of living is leaving wages for dust, with workers needing generous pay rises to outpace inflation.

AAP

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read the most diverse news in one place.

Why your mortgage interest rate could rise further, even after the RBA stops hiking

Australian banks — which made bumper profits last year — are facing soaring funding costs as they need to repay $188 billion of cheap money borrowed from the Reserve Bank in the coming years, which is bad news for home loan borrowers.

ABC News

Strings attached to best deals for savers

People are taking advantage of higher interest rates on their savings accounts but it's becoming hard to find a high rate without conditions attached.

AAP

Regional NSW property hotspots of 2023: Raymond Terrace and Muswellbrook listed in top 10

RAYMOND Terrace is predicted as one of the top 10 locations in regional NSW to purchase property in 2023.

Newcastle Herald

Fixed-rate mortgage coming to an end? You might be in for a shock

Homeowners who have been enjoying an ultra-low fixed-rate mortgage may be in for a shock when it comes time to refinance, with experts predicting some recent buyers will find themselves trapped in a "mortgage prison".

The New Daily

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Canberrans forking out $1386 more each month since rate rises

One expert said home owners are "far from out of the woods" with more rate rises to come.

The Canberra Times

Monthly mortgage repayments could jump by $1000, as RBA weighs another rate hike

Homeowners with a mortgage of $500,000 could be facing monthly mortgage payment increases of just under $1000 by the end of the year

The New Daily

RBA raises rates for a record fifth month, but many are yet to feel mortgage pain

Households will be hit with another hike in their mortgage bills after the RBA increased interest rate for a record fifth month in a row.

The New Daily

Telstra price hikes: Time to shop around as telco mulls more changes

Telstra has foreshadowed further price changes for its mobile users, despite already passing on steep bill hikes for millions of customers.

The New Daily

Borrowers to feel the heat as RBA raises rates again, but new customers get cheaper deals

As the economic outlook became more uncertain, lenders are competing harder for new customers, providing a good opportunity for home buyers with large deposits and owners who have paid off a sizeable portion of their property.

ABC News

How rising interest rates could work for you with term deposits and savings

With the RBA and other central banks winding up cash rates, term deposit rates and even interest rates on savings accounts have started to rise.

The New Daily

Interest rate hikes may send about 200,000 more households into mortgage stress, says analyst

Households struggling with loan repayments are ‘looking at a deep hole, incomes are not rising but costs are’

The Guardian - AU

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news in one place.

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ABC News

Interest rates for savings accounts are rising after rate hike, but are they quick enough and by how much?

The Reserve Bank's cash rate hike may be doom and gloom for mortgage borrowers, but Inge Meldgaard is hopeful that higher rates will boost earnings from her savings.

The New Daily

Why savers are unlikely to benefit much from the RBA rate hikes

RBA governor Philip Lowe jacked up the cash rate by a surprise 50 basis points on Tuesday. But savers are unlikely to benefit much in the short term.

The Guardian - AU

Worried about rising interest rates? Here’s what experts suggest

Be prepared to switch lenders, cut other spending, potentially fix your loan and, if all else fails, seek help

Newsroom.co.nz

Bank of Mum and Dad shuts its doors to first homebuyers

The numbers of first home buyers have dropped by a third, scared off by rising prices and stagnant wages.

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