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

11 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

Commodities surge as oil volatility and metals hit record highs

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Published

23 hours ago

January 16, 2026

Harvey Vargas

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.

Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.

To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.

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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews

Money

Stocks slide and Trump cancels talks: What’s next for markets and Greenland?

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

Published

2 days ago

January 15, 2026

Harvey Vargas

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.

Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.

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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics

Money

U.S. budget deficit falls to $1.67 trillion

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

Published

2 days ago

January 15, 2026

Harvey Vargas

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.

David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.

We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.

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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews