A bank cheque is drawn straight from your account and removes the need to lug around a large wad of cash for a downpayment on a new home or buying a secondhand car. But this convenience comes at a cost.
NAB and Westpac have jacked up owner-occupier and investor home loan rates, and we can safely predict Commonwealth Bank and ANZ will follow suit. But there is one bright spot for borrowers.
CBA will suspend new lending for investors looking to refinance as part of a crackdown on investor lending, believed to be behind housing’s rapid growth.
Hot Stock: ANZ’s 2016 financial results is a necessary stepping stone to improved and more sustainable earnings down the track.
Will the recent inquiry into the banks prompt real change, or is a banking royal commission next on the agenda?
So you want to send some money overseas? Be very careful who you choose to do this for you because currency may be a commodity but it doesn’t always carry the same price tag.
NAB’s recent positive earnings surprise should reassure ASX investors that the major banks are not about to significantly cut their dividends any time soon.
A rate-rigging court case against NAB, ANZ and Westpac highlights the need for a royal commission into the banks, says Mozo director Kristy Lamont.