Money

Major Aussie banks offer $190 mortgage relief starting today

Major banks pass on RBA’s rate cut, offering $190 relief monthly to homeowners; Westpac is the only holdout.

Published

10 months ago

February 28, 2025

ticker NEWS

Major banks pass on RBA’s rate cut, offering $190 relief monthly to homeowners; Westpac is the only holdout.

In Short

Mortgage relief begins today for millions of Australian homeowners as major banks pass on a Reserve Bank interest rate cut, potentially saving borrowers $40 to $190 per month. Despite Westpac not joining this relief, most banks are lowering rates, prompting homeowners to reassess their financial situations amid rising mortgage stress.

Millions of Australian homeowners will benefit from mortgage relief starting today. Commonwealth Bank, ANZ, and NAB are passing on the Reserve Bank’s interest rate cut from 4.35 per cent to 4.10 per cent.

This means homeowners will see reductions of between $40 to $190 per month. 19 per cent of respondents in a Yahoo Finance poll indicated they might have to sell their homes without this cut.

Westpac is currently the only major bank not offering this relief.

Smaller banks

Various banks have announced their new interest rates, with NAB now at 6.19 per cent and Commonwealth Bank at 5.90 per cent, among others. Some smaller banks, like Auswide Bank and Firefighters Mutual Bank, are also lowering rates.

RBA Governor Michele Bullock stated that these changes are effective immediately.

If your bank is not included in today’s announcements, it may provide relief in the coming days. It’s crucial for homeowners to evaluate whether to accept the rate cut based on their financial situation.

Mortgage stress is defined as spending over 30 per cent of one’s salary on a home loan.

Recent data indicates that over 52 per cent of Yahoo Finance readers are using more than 40 per cent of their salary for loan repayments. In Sydney, housing costs consume 57.6 per cent of wages, while apartments take up 46.7 per cent.

Money

Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Published

4 weeks ago

November 27, 2025

Harvey Vargas

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews

Money

Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

Published

4 weeks ago

November 26, 2025

Harvey Vargas

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.

The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.

Money

Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Published

4 weeks ago

November 25, 2025

Harvey Vargas

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar