7th April 2009 - RBA cuts Interest rates by 0.25%
#1
Guest
Posts: n/a
7th April 2009 - RBA cuts Interest rates by 0.25%
The RBA has again cut interest rates by another 0.25% on the 7th April 2009
This brings the official Interest rate down to 3%
BUT... Mortgage Interest rates may NOT be reduced this time...
The CBA has said it will cut Mortgage rates by 0.1%
NAB has indicated no change to its rates.
This brings the official Interest rate down to 3%
BUT... Mortgage Interest rates may NOT be reduced this time...
The CBA has said it will cut Mortgage rates by 0.1%
NAB has indicated no change to its rates.
#2
Re: 7th April 2009 - RBA cuts Interest rates by 0.25%
Willing to bet they will cut savings rates though instantly like they always do. It's almost not worth having savings at the moment because the returns are so pathetic.
#4
Re: 7th April 2009 - RBA cuts Interest rates by 0.25%
We dont have savings, we have an offset mortgage, makes more sense to us.
Disapointing the banks wont pass it on in full, havent heard what ANZ are doing.
Greedy buggers
#6
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: 7th April 2009 - RBA cuts Interest rates by 0.25%
We have a rental house, the rent returns are now far better than money in the bank. Area is 2 mins walk from beach so dont have too many concerns about price dips there, houses rarely come up and if they do still sell in days. Of course tenants are not always predictable behaviour wise!!, weve been fairly lucky though.
#7
Guest
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Re: 7th April 2009 - RBA cuts Interest rates by 0.25%
Revised Standard Variable Mortgage interest rates by the big four banks, after revealing what changes they will make:
CBA is cutting its rate by 0.10% down to 5.64%
NAB is NOT cutting its rate and staying at 5.74%
Westpac is cutting its rate by 0.10% down to 5.81%
ANZ is cutting its rate by 0.1% down to 5.81%
Note that NAB, even with no reduction, still has the 2nd lowest rate.
and don't forget... most banks can discount the above rates by about 0.7% to selected borrowers, it always pays to ask.
CBA is cutting its rate by 0.10% down to 5.64%
NAB is NOT cutting its rate and staying at 5.74%
Westpac is cutting its rate by 0.10% down to 5.81%
ANZ is cutting its rate by 0.1% down to 5.81%
Note that NAB, even with no reduction, still has the 2nd lowest rate.
and don't forget... most banks can discount the above rates by about 0.7% to selected borrowers, it always pays to ask.
#8
Re: 7th April 2009 - RBA cuts Interest rates by 0.25%
i hope when they record enormous profits they'll be passing them on then?
or when the rates start going back up they wont be jumping up more % than the RBA sets it?
Probably not on both counts
or when the rates start going back up they wont be jumping up more % than the RBA sets it?
Probably not on both counts
#9
Re: 7th April 2009 - RBA cuts Interest rates by 0.25%
i thought cartels/monopolies were illegal....?