MORTGAGE

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Can you beat bank by paying $1 a day extra on your mortgage? Here’s how compound interest really works

To minimise the amount of compound interest you pay, there is one effective strategy.

Reserve Bank of Australia leaves cash rate unchanged at 3.60 per cent, Here’r details

Growth in the Australian economy has slowed, with growth over the next couple of years expected to be below trend.

RBA raises interest rates to 3.6 per cent, 10th time in less than a year

Many firms continue to experience difficulty hiring workers, although some report a recent easing in labour shortages. As economic growth slows, unemployment is expected to increase.

Reserve Bank of Australia lifted cash rate to a 10-year high of 3.35%

The full effect of the cumulative increase in interest rates is yet to be felt in mortgage payments.

The RBA will almost certainly lift interest rates in February

The rationale is that higher rates will encourage households to spend less and save more.

How much extra your mortgage will be as Reserve Bank lifts cash rate to 2.6 per cent

"Unless you’re on a fixed-rate mortgage, the banks will likely follow the RBA’s lead and increase the interest rate on your variable home loan soon.

RBA lifts interest rate for fourth consecutive month, here are details

The board claims that today's increase in interest rates is a further step in the normalisation of monetary conditions in Australia.

Sydney and Melbourne House prices in worrying descent as mortgage rates rise

The national fall in home values was driven by sharp monthly declines in Sydney (down 1.6 per cent) and Melbourne (down 1.1 per cent)

Reserve Bank raises interest rate 25 basis points, here’s what it means for your mortgage

In case banks decide to pass on in full, the interest rate rise will increase the repayments by $65 a month on a $500,000 mortgage, and double that on a million-dollar loan.

Albanese promises small deposits, a smaller mortgage and smaller mortgage repayments through ‘Help to Buy’ program

The homebuyer will need to have a deposit of 2 per cent and qualify for a standard home loan with a participating lender to finance the remainder of the purchase.

Must-read

Melbourne family shattered by loss of 16-year-old son, calls for better pedestrian protection

Chris Rua Antony died in hospital on February 20, a week after he was struck by a car while walking home from school along Pound Road in Narre Warren South.

Gaza’s endless War: Proxies, misinformation, and the civilians caught in between

Many senior Hamas leaders have lived for years in luxury abroad, in places such as Qatar and elsewhere, far removed from the consequences of the war they help direct.

Albanese and ministers join Ramadan celebrations, encouraging wider community participation

Social Services Minister Tanya Plibersek described Ramadan nights in Lakemba as one of Sydney’s great traditions, pointing to the bustling streets and strong sense of community.
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