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Home loan borrowers go back to basics
15 October 2009 |
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| The popularity of fixed interest rate loans across Australia has continued to drop, according to September 2009 data from big mortgage broking chain, Mortgage Choice.Fixed rate loans now account for less than 5% of all new loan approvals, while the demand for variable rate loans has surpassed its 12-month average.Fixed rate products have accounted for less than 10% of the company’s new loan approvals for 15 months now, while variable rate loans have become almost exclusively the loan of choice for recent home loan borrowers.Key product preference trends for September were:* Basic variable loan demand rose to 45% of all new approvals from 43% in August,* Standard variable fell to 30% from 31%,* Special variable (commonly known as professional packages, for which rate discounts, ‘Gold’ credit cards and other special features are common) rose to 14% from 12%,* Line of credit (often popular with investors) remained steady at 6%,* Bridging (for those selling a property while purchasing another) fell to 0.25% from 0.53%. |
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| Source : Mortgage Choice |
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| 30 October 2009 | - NAB could move raise rates up |
| | - ANZ backs away from no rate rise commitment |
| | - Westpac says: talk to our branch manager |
| | - Banks to pass on regulation costs to customers |
| | - Indian banking team opens doors |
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| 29 October 2009 | - Investors flock to property but fear rate rises |
| | - NAB slugs borrowers |
| | - House prices boom again |
| | - Land prices go up |
| | - Hot property investment locations named |
| | - ANZ lives in your world |
| | - 0.25 per cent rate rise coming next week |
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| 28 October 2009 | - Switch banks and save $4,300 |
| | - Credit Unions have cheapest personal loans |
| | - Westpac says rates may have to go up |
| | - Customers rate ANZ the favourite bank |
| | - Personal loans a good alternative to cards |
| | - High income earners like Westpac |
| | - Commonwealth upgrades Netbank |
| | - Netbank gets better for business |
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| 27 October 2009 | - Big banks can’t rule out big rate rises |
| | - MacBank to sell Bendigo home loans |
| | - We lend responsibly say ANZ |
| | - Home buyers fear missing out as prices soar |
| | - Climate change threatens homes |
| | - Suncorp term deposits promise higher returns |
| | - Business turning against NAB |
| | - Your info is safe say banks |
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| 26 October 2009 | - ANZ rules out rate increases |
| | - Big banks raise fixed rate loans |
| | - Melbourne boom to push rates up |
| | - Amazing Melbourne auction results continue |
| | - Customer info being sent overseas |
| | - Bank investors brace for earning season |
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| 23 October 2009 | - Make your money work for you |
| | - Rates could hit 10% in 2 years |
| | - Big banks bounce back |
| | - First home buyers - get your loan application done |
| | - ME bank opens more Melbourne branches |
| | - Scam phone survey targets bank customers |
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| 22 October 2009 | - House prices to double |
| | - RBA divided on rate rises |
| | - Rate tipped to rise by 0.5 per cent |
| | - Bendigo most popular bank |
| | - South West Credit open for lending |
| | - Pub/club ATMs to give limited cash |
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| 21 October 2009 | - Contactless cards cause confusion |
| | - Online brokers cut prices |
| | - ANZ puts retirement bankers in every branch |
| | - Low interest loans get a boost |
| | - PayPal card coming soon |
| | - Bank guarantee needs to end |
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| 20 October 2009 | - Term deposit rate tactics vary |
| | - Vendor boost attracted 60,000 more buyers |
| | - Customers generating cash |
| | - Deposit takers slow to pass on higher rates |
| | - Split rates decision at NAB |
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| 19 October 2009 | - one direct scrapped by ANZ |
| | - UBank: the last of the big bank online brands |
| | - Wave to pay |
| | - AMP wants fewer shareholders |
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| 16 October 2009 | - Seven more rate rises coming soon |
| | - NAB opens the door to big rate rises |
| | - Consumers prefer eftpos to credit |
| | - NAB abolishes monthly account fees |
| | - Time for a new transaction account? |
| | - Other banks reject more fee cutting |
| | - NAB playing catch up in deposit market |
| | - Bank of Queensland has big ambitions |
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| 15 October 2009 | - Borrowers turn against fixed rates |
| | - Voiceprint coming to NAB online bank |
| | - Banks to know everything about you |
| | - Your credit file is about to get screened |
| | - Pay with a wave at IGA supermarkets |
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| 14 October 2009 | - Don’t get caught out with interest rates increases |
| | - 20 per cent struggling with repayments |
| | - Aussie John says check your rates |
| | - NAB customers hit by computer problem |
| | - St George on go slow |
| | - Fake mortgages net millions |
| | - Community banking celebrates birthday |
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| 13 October 2009 | - St George launch savings account for Gen Y |
| | - Demand outstrips housing supply in NSW |
| | - First home saver accounts a fizzer |
| | - Small business to get financed |
| | - All deposits are guaranteed |
| | - Gen Y shares cash but can’t save it |
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| 12 October 2009 | - Extra credit card benefits without the extra cost |
| | - Innovative mortgages signal change |
| | - Average repayments to rise by $375/month |
| | - Westpac deposit rates hit new high |
| | - RAMS adds extra to rate rise |
| | - Sydney auctions bouncing back |
| | - ANZ cuts more account fees |
| | - CBA selling women’s diary |
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| 09 October 2009 | - Mortgage repayments to rise by $355/month |
| | - Rates rise across the board |
| | - Cards and business loans go up |
| | - Banks boost online savings rates |
| | - CBA says do you need a loan extension? |
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| 08 October 2009 | - Rate Rises - what are the major lenders doing? |
| | - Rate rises: CBA refusing to go first |
| | - CUA tops customer satisfaction survey |
| | - Investors sense the bottom of the market |
| | - Upgraders, investors replacing first home buyers |
| | - CUA losing members |
| | - Mortgage competition gone out the window |
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| 07 October 2009 | - Prepare for Rate Rise or Risk Needing a Second Job |
| | - Mortgage rates set to rise |
| | - Term deposit rates at record highs |
| | - Time to end low interest rates says Stevens |
| | - Homeowners to pay $50/month more |
| | - Many more rate rises to come |
| | - Complaints soar about mortgages and margin loans |
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| 06 October 2009 | - Less competition in banking |
| | - Auction continue to deliver results |
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| 02 October 2009 | - Banks deny rate rise plans |
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| 01 October 2009 | - CUA think pink to support breast cancer research |
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