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  • CBA Follows NAB lead Formula 1 Finance
    taking it to 7 01 per cent 0 02 per cent higher than National Australia Bank Yesterday NAB announced it would cut 32 basis points from its borrowing rates taking its standard variable rate to 6 99 per cent CBA s rate decision now puts pressure on Westpac and ANZ It is very unlikely that any lender would look to pass on the rate cut in full to their borrowers I expected all of the lenders to withhold 10 to 15 basis points of the 0 5 per cent rate cut It is just a sign of the market at the moment It looks like Australia s second tier lenders will withhold even more Last night ING DIRECT announced it would decrease the interest on its variable rate mortgages by 0 3 per cent Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On May 3 2012 Bank Profits Enconomy Finance News Financial goals Home loan product Inflation Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1 2 3 4 5 6 7 8 9 10

    Original URL path: http://www.formula1finance.com.au/finance-news/cba-follows-nab-lead/ (2014-01-04)
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  • Majors hold fire on interest rate cut Formula 1 Finance
    s announcement The Bank of Queensland confirmed that it would pass on 35 basis points of the rate cut to its borrowers However at close of business yesterday all of the majors were yet to make announcements around their mortgage rates I expect the big banks to follow the lead of BoQ and hold back some of the rate reduction This is a very big move from the Reserve Bank and it will help thousands of households with people on a 300 000 mortgage potentially saving around 1 000 per year But it s unlikely that all lenders will pass on the full 50 basis point rate cut The signals from the big four banks suggest that they will try to hold on to part of this rate cut remember that of the 50 basis point cash rate reduction from the RBA since November the big four banks have only passed on around 40 basis points to variable rate home loan customers Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On May 2 2012 Bank Profits Enconomy Financial goals Home loan product Inflation Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation

    Original URL path: http://www.formula1finance.com.au/interest-rate/majors-hold-fire-on-interest-rate-cut/ (2014-01-04)
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  • Banks to move regardless of RBA Formula 1 Finance
    that have seen costs of funds rise by 100 basis points at least That is reason why we have seen out of cycle rate hikes and I wouldn t be surprised to see more still as the banks look to pass on the higher costs of funds despite there huge profits ANZ was the first lender to move out of cycle last month lifting the interest on its standard variable rate by 6 basis points All of the three remaining majors then followed suit with Westpac and CBA both lifting their standard variable rates by 10 basis points while NAB increased its SVR by 9 basis points ANZ s monthly rate meeting is set to take place again this Friday with many industry watchers now predicting the lender will look to lift rates for the second consecutive month If this comes to pass it will be interesting to see whether or not the other lenders follow suit given they lifted their rates by more than ANZ last month Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On March 6 2012 Bank Profits Enconomy Finance News Financial goals Inflation Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home

    Original URL path: http://www.formula1finance.com.au/finance-news/banks-to-move-regardless-of-rba/ (2014-01-04)
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  • Interest Rates to Fall Formula 1 Finance
    likely timing Will the consumer see these rate cuts in full I very much doubt it as the big four hold the market share they will dictate the terms to suit their shareholders Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On February 24 2012 Bank Profits Budget Enconomy Finance News Financial goals Home loan product Inflation Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1 2 3 4 5 6 7 8

    Original URL path: http://www.formula1finance.com.au/finance-news/interest-rates-to-fall/ (2014-01-04)
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  • ANZ Ignore RBA & Increase Rate Formula 1 Finance
    7 46 pa comparison rate New small business rates are effective from 17 February ANZ will also cut its three year fixed rate mortgage by 0 15 to 5 99 pa as part of its Breakfree banking package ANZ say this month they faced a serious dilemma in their review balancing the rising cost of bank funding including deposit customers interests in receiving highly competitive rates and the expectation of borrowers that we keep lending rates as low as possible In December and January the bank says it absorbed the additional funding costs in the hope that funding pressures would ease and that no change in lending rates would be necessary ANZ are still beating the drum that margins in retail and business banking have now been squeezed for a number of months and they have taken the difficult decision to pass on part of the higher costs to customers The new monthly interest rate review process recognises that the Reserve Bank s cash rate alone is not an accurate reflection of bank funding costs particularly since the global financial crisis which has left all banks with the task of raising funds in volatile global markets and through stronger competition for deposits This change comes with a duty to explain to customers what drives the decisions and provide greater transparency about funding costs ANZ want to assure customers that they are committed to providing competitive products and we hope there will be an opportunity to lower rates in the coming months as greater confidence returns to global funding markets There has been much debate on banks in recent days ANZ will no doubt leave some customers frustrated and even angry Why they couldn t just reduce the massive discounts on offer is a mystery Clearly the profit is higher using

    Original URL path: http://www.formula1finance.com.au/finance-news/anz-ignore-rba-increase-rate/ (2014-01-04)
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  • Banks likely to withhold rate cut Formula 1 Finance
    As a result the lender decided to align its mortgage rates more closely with its funding costs and review its rates on the second Friday of each month independently of the RBA Less than one week later Westpac said that the lender had decided to follow ANZ s suit and review its mortgage rates independently of the Reserve Bank We are probably going to see the RBA drop the rates But the big question will be whether or not the banks pass on the rate cut in full and I don t think they will All borrowers would really benefit from another 25 basis point rate cut but I do not think we will see the rate cut passed on in full If the banks withhold some or all of the rate cut it would really hurt the level of housing activity Given the weak housing numbers we saw this month I think there is a good chance we will see another rate cut in February But will it be passed on I don t necessarily think that will be the case which will ultimately limit the amount of people coming back into the housing market Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On February 1 2012 Bank Profits Enconomy Finance News Financial goals House prices Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates

    Original URL path: http://www.formula1finance.com.au/finance-news/banks-likely-to-withhold-rate-cut/ (2014-01-04)
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  • ANZ announces rate decision Formula 1 Finance
    ANZ last month said the bank would announce any changes to these rates on the second Friday of each month rather than in response to the Reserve Bank monthly announcement ANZ says the Bank funding costs are now largely unrelated to movements in the Reserve Bank s official cash rate ANZ are intending on reviewing key variable lending rates each month Anz say it allows them to more accurately reflect the sustained changes in funding costs they incur through the interest they pay to customers for their deposits and to investors in wholesale money markets To me this just seems like a publicity stunt as I cannot see them moving rates up against the other majors If they were to do this I would suggest their customers would refinance to a better deal Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On January 13 2012 Bank Profits Enconomy Finance News Financial goals Inflation Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1 2 3 4 5 6 7 8 9 10 11 12

    Original URL path: http://www.formula1finance.com.au/finance-news/anz-announces-rate-decision/ (2014-01-04)
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  • First major moves on rates Formula 1 Finance
    off between the biggest banks ANZ has sent a strong message to the marketplace and piled pressure on its competitors to follow suit I believe given the economic conditions facing consumers all majors should look at passing on the full rate cut Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On December 8 2011 Bank Profits Budget Enconomy Finance News Financial goals Home loan product Inflation Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S

    Original URL path: http://www.formula1finance.com.au/finance-news/first-major-moves-on-rates/ (2014-01-04)
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