Compare The Market Australia

1 week ago | comparethemarket.com.au | Meredith O'Brien |Phillip Portman

Compare the Market is encouraging Australians to compare their electricity plans and move to cheaper offers if they can, after the Australian Energy Regulator (AER) today confirmed that electricity pricing changes for the will be implemented from 1 July.

2 weeks ago | comparethemarket.com.au | David Koch

It’s that time again. June 30 is just around the corner. Despite cost-of-living pressures, it’s clear that Australians’ thirst to buy a new vehicle hasn’t lost much traction. In fact, according to data from Compare the Market, more than one-in-10 (11.8%) want to buy one this year and the majority (55.6%) are pondering on buying a new car in the next few years. With tax time approaching and big offers from car brands, it’s a good time to consider buying a new car.

2 weeks ago | comparethemarket.com.au | Phillip Portman

The Reserve Bank of Australia has confirmed that it will drop the cash rate by 25 basis points at May’s board meeting. While most banks are expected to pass on the rate cut in full, Compare the Market’s Economic Director David Koch warned that homeowners shouldn’t misplace their confidence in lenders. “Rates may be starting to drop but that doesn’t guarantee you’re getting a good deal, especially if you haven’t refinanced in a few years,” Mr Koch said.

3 weeks ago | comparethemarket.com.au | David Koch |Phillip Portman

Compare the Market’s Economic Director David Koch is confident that the Reserve Bank of Australia will slash interest rates again next week, in a move that could leave thousands of dollars more in the hands of some mortgage holders each year. A 0.25% rate cut would significantly impact the household budget. Someone with a $666,000 mortgage would pocket an extra $106 each month if their bank passed on the rate cut. Over a year, that’s an additional $1,272.

3 weeks ago | comparethemarket.com.au | Phillip Portman

Reviewed by Economic Director, David Koch Aussie homeowners are set to “stash” rather than “splash” savings from a widely expected RBA rate cut next week, with new Compare the Market research showing most will boost savings or offset accounts—or keep repayments unchanged. A borrower with a loan of $666,000 would pocket around $100 a month or more than $1,200 a year with a 0.25% rate cut. The amount would double if the RBA slashes rates by 0.50%, which some economists are predicting.