Pride Mortgage Services

29/05/2025

Following on from the RBA's decision to lower the cash rate. Here is an update of lenders and when they are moving their rates:

CBA - 30 May 2025
NAB - 30 May 2025
Westpac - 3 June 2025
St George - 3 June 2025
ING - 3 June 2025
ANZ - 30 May 2025
Bankwest - 30 May 2025
Ubank - 29 May 2025
Peoples Choice - 30 May 2025
Teachers Mutual - 1 June 2025
My State - 5 June 2025
Great Southern
Liberty - 3 June 2025
AMP - 2 June 2025
Bendigo Bank - 6 June 2025
Macquarie Bank - 23 May 2025
Pepper Money - 5 June 2025
ME Bank - 7 June 2025
Firstmac 3 June 2025
Resimac - 11 June 2025
Beyond Bank - 3 June 2025
Bank First - 20 May 2025

Send a message to learn more

20/05/2025

The Reserve Bank of Australia (RBA) reduced the official interest rate by 25 basis points to 3.85% following today’s monetary policy meeting. The full statement from the RBA is available to read here.
https://www.rba.gov.au/media-releases/2025/mr-25-13.html

The move was in line with market expectations, particularly after the Australian Bureau of Statistics found that annual trimmed mean inflation (the RBA’s preferred measure) had dropped to within the target range of
2-3% in the March 2025 quarter, falling from 3.3% to 2.9%.

Looking ahead, forecasts indicate there could be more cuts to come in 2025, but that will depend on changes to inflation, the labour market and broader economic conditions.

The below lenders have already announced their rates are moving.

CBA, NAB, ANZ & Bankwest on 30.05.2025
Westpac, St George & ING on 03.06.2025

I will continue to keep you updated as other lenders announce when they are moving.

Contact me if you’d like to discuss the current interest rate environment and how it may affect your current loan or future borrowing plans.

At its meeting today, the Board decided to lower the cash rate target by 25 basis points to 3.85 per cent.

19/03/2024

March, 2024

At its meeting today, the Board decided to leave the cash rate on hold at 4.35%

The Governor of the RBA, Michele Bullock’s statement is available below.

https://www.rba.gov.au/media-releases/2024/mr-24-05.html

When was your last home loan health check?

Some questions to think about?

• Am I paying an unreasonably high interest rate?
• Am I paying high fees?
• Am I happy with the service I receive?
• Does my loan give me the features I need?
• Am I paying for features I don't use?
• Have my financial circumstances changed?

Benefits

• A home loan health check will generally cost you nothing and could save you thousands.
• Your home loan features could be improved, or you could find yourself with a lower interest rate.
• A better payment structure could also be introduced, making your repayments more manageable.
• Checking the state of your current loan could uncover the possibility of taking out additional finance, which can consolidate any other debt you may have, or help you purchase an investment property.

Reach out if it has been some time since you have spoken to me, and let’s do a home loan health check!

Until next time....

At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.

05/12/2023

December, 2023

At its meeting, the Board decided to leave the cash rate on hold at 4.35%

The Governor of the RBA, Michele Bullock’s, statement is available in full https://www.rba.gov.au/media-releases/2023/mr-23-35.html

I would like to take this opportunity to wish all of my clients and their families a very Merry Christmas and a wonderful 2024!

Thank you for your continued support and partnership.

Until my next post in 2024 stay safe and well!

At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.

08/11/2023

Following on from the RBA's decision to raise the cash rate by 0.25%, the following lenders have advised that they are moving their rates -

NAB - from 17.11.2023
Bank of Queensland from 10.11.2023
Virgin Money from 10.11.2023
ME Bank from 11.11.2023
ANZ from 17.11.2023
Westpac & St George from 21.11.2023
ING from 14.11.2023
CBA from 17.11.2023
AMP from 13.11.2023
Firstmac from 10.11.2023
Bankwest from 17.11.2023
Macquarie Bank from 17.11.2023
Liberty from 14.11.2023

We will continue to update you with lender updates.

08/11/2023

November 2023

Yesterday the Board decided to RAISE THE CASH RATE AGAIN BY 0.25%, NOW AT 4.35%

Reserve Bank governor Michele Bullock said Inflation in Australia has passed its peak but is “still too high” and is proving more persistent than expected a few months ago.
“The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly. While the central forecast is for CPI inflation to continue to decline, progress looks to be slower than earlier expected,” Bullock said.
“CPI inflation is now expected to be around 3.5% by the end of 2024 and at the top of the target range of 2% to 3% by the end of 2025. The Board judged an increase in interest rates was warranted today to be more assured that inflation would return to target in a reasonable timeframe.” Bullock said.

Please don’t hesitate to reach out if I haven’t reviewed your loan in some time, you will be surprised by just going to your lender that your rate could be reduced.

Over the coming days we will keep you updated advising when lenders are moving on their rates.

15/10/2023

Love what I do, helping clients achieve their goals!

Find out more about Pauline Sultana, Mortgage Broker in Penrith, NSW on Australia's Home of Mortgage Brokers - Broker Pages.

05/09/2023

September, 2023

At its meeting today, the Board decided to leave the cash rate unchanged at 4.1%
The Governor of the RBA, Philip Lowe’s statement is available in full
https://www.rba.gov.au/media-releases/2023/mr-23-23.html

A nice relief to see rates on hold again.

Please reach out if you haven’t spoken to me for some time, so I can review your current situation.

Until next time....

At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent.

01/08/2023

August 2023

At its meeting today, the Board decided to leave the cash rate unchanged at 4.1%. The Governor of the RBA, Philip Lowe’s statement is available below.

https://www.rba.gov.au/media-releases/2023/mr-23-19.html

Macquarie Bank provided a great article on 4 ways you can get ahead on your home loan.

https://www.macquarie.com.au/home-loans/a-guide-for-good-borrowers/four-ways-to-get-ahead-on-your-home-loan.html?sessionid=GA1.3.1035168442.1690661119

If you would like your Mortgage reviewed, please email me with your Current Balance and your current interest rate and let me see if your lender is prepared to review your rate!

Until next time!

As property prices fall and interest rates rise, there are many strategies borrowers can use to ensure they are managing and making the most of changing conditions. Here are four ways you can navigate the current environment and set yourself up for long-term success.