Firstmac analysis shows the number of borrowers on hardship is falling (MPA Magazine)

The latest data from Firstmac’s $12.6b loan book shows that the number of Australians on COVID-19 hardship arrangements is steadily falling despite the second wave of lockdown in Victoria. MPA spoke with chief financial officer James Austin about how Victoria compares with other states and why the ACT is doing the best nationwide.

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12 Mar 2020

Lenders continue to pass on full rate cuts (The Adviser)

Firstmac has announced that it will cut rates for all new variable home loans on principal and interest payment terms by 25 basis points, and all interest-only variable loans by 10 basis points.
 
Further, all current Firstmac customers with a variable-rate home loan will have their rate cut by 25 basis points.
 
Earlier this month, the Reserve Bank of Australia cut the official cash rate by 25 basis points to a record-low of 0.5 per cent.

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