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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Latest Podcast

Has the property market reached its peak; Biden’s climate summit and our share...

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There is $17.5 billion in lost and unclaimed super across ...

Invest

Another major bank cuts its interest rates

By Reporter

April 12 2019
Share

Invest

Another major bank cuts its interest rates

By Reporter
April 12 2019

Out-of-cycle interest rate moves are continuing, and this time a big four bank has announced a series of cuts.

Another major bank cuts its interest rates

By Reporter

April 12 2019
Share

Out-of-cycle interest rate moves are continuing, and this time a big four bank has announced a series of cuts.

Effective today, Westpac is decreasing rates on its Fixed Option Home Loan and its Fixed Rate Investment Property Loan with principal and interest repayments.

The fine print

For Fixed Option Home Loans with principal and interest repayments:

- three-year fixed rate will drop by 10 basis points to 3.79 per cent (4.89 per cent comparison rate)

- four-year fixed rates will drop by 20 basis points to 4.09 per cent (4.92 per cent comparison rate)

- five-year fixed rates will drop by 10 basis points to 4.09 per cent (4.87 per cent comparison rate)

For Fixed Rate Investment Property Loan with principal and interest repayments:

- two-year fixed rates will drop by 6 basis points to 3.89 per cent (5.42 per cent comparison rate)

- three-year fixed rates will drop by 20 basis points to 3.99 per cent (5.33 per cent comparison rate)

- five-year fixed rates will drop by 10 basis points to 4.39 per cent (5.30 per cent comparison rate)

More moves on the cards

Westpac’s announcement follows rate cuts from CBA, which were announced earlier this week.

They also follow a broader trend of rate hikes and drops independent of whether the Reserve Bank is adjusting the official cash rate.

“Where borrowers are concerned, it is no longer reasonable to assume that changes in the cash rate, or lack thereof, will drive home loan interest rates,” Susan Mitchell, chief executive officer at Mortgage Choice, said recently.

“At a standing committee on economics in February, RBA governor [Philip] Lowe highlighted the importance of borrowers seeking a better deal on their home loan, drawing attention to the discounts on headline interest rates that lenders are willing to give borrowers,” she said.

“Interest rates are constantly changing, and the rates you see advertised can be significantly higher than the rate you could secure.”

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