Comparison rates were introduced by the Federal Government as a way to standardise and simplify how lenders presented home loan costs to consumers. Understanding this rate, will help you make better decisions.
The cash rate is on hold for the third consecutive month as the Reserve Bank of Australia (RBA) Board held its monthly meeting in which it sets the official interest rate. The Cash Rate remains at 4.10%.
“How come house prices have gone up so much? Property prices have gone up so much because we’ve got a lack of supply?” Mark Bouris asks the tough questions on Channel Nine.
Comparison rate. Variable rate. Fixed interest rate. Redraw. Break costs. Revert. Offset accounts. The maze of financial jargon can take some getting used to. Let’s look at a home loan 101 question to help you get started.
It was a busy appearance for Mark Bouris on Sky News as he discussed a number of pressing issues that all homeowners are facing.
Being your own boss doesn’t mean you have to settle for a higher interest rate or face insurmountable challenges.
Bouris has appeared on Channel 7’s Sunrise, to call for the RBA to “move the target”, referring to the RBA’s target of returning inflation back to 2 – 3%.
The RBA has decided to hold the official cash rate for July to “provide some time to assess the impact of the increase in interest rates to date”.
If you’re new to the home loan or finance world, you may be wondering ‘what is the Reserve bank?’ ‘How do they affect home loans?’ ‘What does a rate increase mean for me?’
