RBA cash rate for November increased to 4.35%
Following four consecutive monthly pauses, The Reserve Bank of Australia (RBA) has raised the official cash rate by 0.25% to 4.35%. The decision to increase the cash rate follows the recent release of higher than anticipated September 2023 quarter inflation numbers.
AFG Securities launches long-term interest-only mortgage for mature aged borrowers
Australian Finance Group Ltd’s (AFG) non-bank lending business, AFG Securities, has today announced the launch of AFG Home Loans Retro Thrive, an interest-only refinancing mortgage for mature aged borrowers. AFG Home Loans Retro Thrive –an interest-only loan for over 50-year-olds refinancing existing investment debt with a loan term of up to 40 years – marks […]
Borrowers cautious as rates hold
(ASX:AFG) A pause in interest rate hikes once again in October will be welcomed by mortgage holders however the cumulative effects of the rapid interest rate increases, a drop in cashback offers, supply constraints and cost of living pressures has slowed home loan activity in the first quarter of the new financial year. AFG Chief […]
October cash rate remains unchanged at 4.10%
The Reserve Bank of Australia (RBA) has again decided to hold the official cash rate at 4.10%. The decision comes despite annual inflation increasing to 5.2% in August 2023, the first rise in four months.
AFG Queensland State Manager to retire
AFG has today announced Queensland and northern New South Wales State Manager Beccy Ras will retire from her role after almost 24 years at the company. Beccy joined AFG in January 2000 as National Accounts Manager after several years working at financial companies in the UK, South Africa, New Zealand and Australia. She became AFG […]
September cash rate remains unchanged at 4.10%
For the third consecutive month, The Reserve Bank of Australia (RBA) has decided to hold the official cash rate at 4.10%. The decision to maintain the cash rate at 4.10% comes after the monthly Consumer Price Index (CPI) fell to 4.9% in July, down from a peak of 8.4% in December last year.
AFG wins the MFAA National Aggregator Award for the second consecutive year
The MFAA Excellence Awards celebrate brokers, businesses, and industry professionals who are the best of the best each year. The Aggregator Award recognises excellence across multiple categories including broker support, professional development, technology, lender panel, broker advocacy and ethics in 2022. The national awards were the culmination of five MFAA State Excellence Awards ceremonies held […]
August cash rate remains unchanged at 4.10%
For the second consecutive month, The Reserve Bank of Australia (RBA) has decided to hold the official cash rate at 4.10%. The decision to keep the official cash rate at 4.10% follows the annual household inflation rate falling from 7% in the March quarter to 6% during the June quarter.
AFG Home Loans launches Retro Switch with low serviceability buffer
AFG Home Loans has this week launched a new mortgage product that offers a more flexible way to refinance. AFG Home Loans Retro Switch offers eligible AFG’s brokers’ customers dollar-for-dollar refinancing of a home loan, which has competitive interest rates and is assessed using a reduced 1 per cent serviceability buffer – lower than the […]
Financial year finishes on a high
(ASX:AFG) The AFG Index data released today shows the company’s network of brokers lodged $22 billion in residential mortgage finance for the final quarter of the 2023 financial year. AFG CEO David Bailey said after three quarters of consecutive falls in volume, the final quarter of the 2023 financial year lifted 15.6% on the prior […]