The Reserve Bank has left interest rates on hold for a second straight month after inflation fell – hinting the worst could be over for Australian home borrowers.
Outgoing Governor Philip Lowe’s second last board meeting opted to pause the cash
Tag: interest
Interest rates: RBA leaves on hold but here’s why it’s not all good news
Interest rates: RBA leaves on hold but here’s why it’s not all good news
‘Good news’ for mortgage borrowers as swap rates indiciate interest rates will soon stabil | Personal Finance | Finance
Mortgage borrowers could soon have some relief from rocketing interest rates and the surge in repayments.
Kevin Roberts, managing director of Legal & General Mortgage Services, told Express.co.uk there are signs that rates are levelling off.
He said: “It is too early to tell whether rates are on their way down, but there is good news for borrowers in that swap rates – which are used by lenders to predict future interest rates – are starting to stabilise, dropping by
Savings accounts are paying up to 7% interest – ‘key’ things to consider before switching | Personal Finance | Finance
Savings accounts are paying up to 7% interest – ‘key’ things to consider before switching (Image: Getty)
Thousands of Britons could be missing out on hundreds of pounds worth by not switching to high-interest savings accounts.
Research by Shawbook Bank found that half of the savers (46 percent) in Britain are choosing to leave their savings in current accounts with low interest, and 30 percent admit to being “on the fence” about moving to another account.
Savers are being warned
Virgin Money boosts interest on fixed cash ISA and earns ‘excellent’ rating | Personal Finance | Finance
Virgin Money has improved its position on the table of fixed cash ISAs with an interest rate increase to 5.61 percent and has earned an “excellent” rating from Moneyfactscompare.co.uk.
Savers can open Virgin Money’s Two Year Fixed Rate Cash E-ISA (Issue 610) with a minimum deposit of £1 and interest can be paid monthly or annually.
Commenting on the deal, Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “Virgin Money has changed the issue numbers and increased the rates on its
Interest rates: Parts of Australia’s cities most in danger of falling off a mortgage ‘cliff’ as repayments increase
A finance expert has warned that mortgage arrears could ‘tick up’ as soon as the second half of 2023, with millions of Aussie borrowers on a mortgage cliff of low rate home loans due to face a repayment shock.
Erin Kitson’s warning followed her revelation that people living in the outer regions of capital cities across the country had higher mortgage arrears levels than their inner-city counterparts.
Some of the high rate areas included the South West, Outer West and
Virgin Money raises savings interest rates to 5.61 percent: ‘Attractive choice for savers’ | Personal Finance | Finance
The two-year fixed-rate Cash E-ISA from Virgin Money is one of the few savings accounts to be higher than the current base rate.
As it is only available for a limited period of time, the savings product has a notice period which finishes on August 24, 2025.
It has a minimum operating balance of £1 and a maximum balance which is the ISA allowance, currently £20,000.
Accessing to the savings account is permitted but savers will be subject to a
Martin Lewis urges Britons to ‘ditch’ cash ISAs to get high savings interest rates | Personal Finance | Finance
Martin Lewis is urging Britons to “ditch” their old cash ISAs in order to secure better interest rates on savings accounts. This comes following a series of recent rate hikes from the Bank of England in an attempt to address the UK’s high inflation rate.
As a consequence of this, this interest rate rise has been passed on by banks and building societies to their savings accounts. Savers have benefited from the central bank’s decision-making with rates reaching as high
Federal Reserve Raises Interest Rates to Highest Level in Two Decades
new video loaded: Federal Reserve Raises Interest Rates to Highest Level in Two Decades
transcript
transcript
Federal Reserve Raises Interest Rates to Highest Level in Two Decades
Jerome H. Powell, the Fed chair, announced that the central bank raised interest rates to a range of 5.25 to 5.5 percent, the highest level since 2001.
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The Fed’s monetary policy actions are guided by our mandate to promote maximum employment and stable prices for the American people. My colleagues and I
Best savings accounts for June 2023 as banks raise interest rates to 6.15 percent | Personal Finance | Finance
Britons are looking for the best savings interest rates to bolster their finances amid the cost of living crisis.
The Bank of England has opted to raise rates multiple times this year in a bid to mitigate the impact of inflation on the economy.
Currently, the base rate is at five percent and the central bank is set to announce potential further changes on August 3.
However, with inflation easing last month, further interest rates hike may not be guaranteed
Federal Reserve Hikes Interest Rates to 22-Year High, but U.S. Projected to Avoid Recession
Small businesses and community banks will be squeezed, analysts noted.
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