Latest news with #BankofQueensland
Business Insider
30-05-2025
- Business
- Business Insider
J.P. Morgan Sticks to Their Sell Rating for Bank of Queensland (BKQNF)
In a report released today, Andrew Triggs from J.P. Morgan maintained a Sell rating on Bank of Queensland (BKQNF – Research Report), with a price target of A$6.10. The company's shares closed last Thursday at $4.14. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Triggs is a 3-star analyst with an average return of 3.1% and a 51.58% success rate. Triggs covers the Financial sector, focusing on stocks such as Macquarie Group Limited, ANZ Group Holdings, and National Australia Bank Limited. Currently, the analyst consensus on Bank of Queensland is a Moderate Sell with an average price target of $4.06. BKQNF market cap is currently $3.29B and has a P/E ratio of 16.50.
Daily Telegraph
21-05-2025
- Business
- Daily Telegraph
Shame list: 75 Aussie banks refuse RBA's rate cut in May 2025
ANALYSIS One bank played the role of villain in February, when it refused to pass on much-needed rate relief to customers. Now, Virgin Money has changed its tune, announcing it will pass on the RBA's May rate cut in full. Failure to pass on all, or any of a 25 basis point cut by the central bank would have left both Virgin Money and BOQS customers forking out 0.5 per cent more money in interest to their bank than they would be if those banks followed the lead of most of the 110 other lenders on comparison website Finder's books and passed on the savings in full. But Bank of Queensland, who owns Virgin Money and BOQS, was quick to confirm both lenders would pass on this cut in full, along with Bank of Queensland itself and other subsidiary ME Bank. BOQ Business Bank would also be passing on the cut, a media spokesperson said. It means Virgin Money avoids the dreaded 'shame list' of banks that drag their feet on passing on cuts by the RBA. SEE THE SHAME LIST OF BANKS YET TO PASS ON THE MAY CUT BELOW MORE:15 lenders cut rates ahead of RBA meeting On an average Aussie loan of just above $600,000, a single rate cut of 0.25 per cent will save about $1200 a year. A double rate cut will save $2400 a year. Those savings increase significantly for the vast number of Aussies with higher mortgage balances than the average. Back in February, media representatives from Bank of Queensland, which owns Virgin Money and BOQS, told me that while BOQ and ME Bank were passing on rates in full, the two subsidiary lenders would not because their offerings were 'aligned to the market' and had previously been cheaper than the market. That struck me as odd considering Virgin Money's best variable rate was at 6.44 per cent, which until Tuesday's decision was higher than all bar seven of the 111 lenders on Finder's radar. I'm not sure which market they were referring to at the time. Their customers agreed, taking to their social media pages to vent. 'Currently negotiating a new deal with another bank. You'll have lost home loan and credit cards with us because of the greed,' posted Kelly Schuppe at the time. I've approached them again this time to ask if they will consider passing on. No response as of yet, but it will be interesting to see how they justify it if they are again planning not to cut. Finder's head of consumer research Graham Cooke said there was a chance that not as many lenders would pass on the next rate cut in full. 'Historically, banks haven't always passed on RBA rate cuts in full, especially during periods when their profit margins are squeezed,' Cooke said. MORE:Brutal truth about how young Aussies are buying homes Suburbs where homes are selling fror huge discounts MORE: Shock rise in home loan arrears 'However, particularly with the recent rate cuts, there has been strong societal pressure for the major banks to pass on the full 25 basis point cut to their variable home loan customers, often driven by public pressure and competition.' Indeed, NAB wasted no time, announcing at 2.31pm it would pass on the full 0.25 per cent cut to customers as of Friday, 30 May. CBA, ANZ and Westpac quickly followed suit, each passing on the cut in full. 'The competitive landscape among lenders plays a significant role. If one major bank passes on the full cut, others are often pressured to do the same to avoid losing customers,' Cooke said. 'Even if the full cut isn't passed on by your current lender, the competitive environment means there will likely be better deals available elsewhere. This makes refinancing crucial for homeowners looking to maximise their savings. 'A reduction of even half a per cent can be the difference of thousands of dollars a year. 'Shop around to find a variable home loan that offers a lower interest rate than your current provider. The very lowest rates now have a '5' in front of them.' MORE: What homes will be worth in each suburb by 2030 With that in mind, here is the full list of lenders on Finder's books and their best variable rate. We will update this each day with the new rates from banks that do pass on cuts. Banks who have cut, new best rate (%), effective date ANZ: 5.59- 30 May CommBank: 5.59- 30 May NAB: 5.94- 30 May Westpac: 5.59- 3 June AMP: 5.64- 2 June Athena: 5.74- 20 May Australian Mutual Bank: 5.19- 1 June Bank Australia: 5.63- 2 June Bank of Melbourne: 5.79- 3 June BankSA: 5.79- 3 Jun BankVic: 5.48- 3 June Bankwest: 5.69- 30 May BOQ: 5.63- 6 June Firefighters Mutual Bank: 5.49- 1 June Greater Bank: 5.49- 30 May Heritage Bank: 5.49- 30 May Homeloans: 5.89- 11 June HomeStar Finance: 5.49- 16 June HSBC: 5.49- 2 June ING: 5.64- 3 June Macquarie Bank: 5.64- 23 May ME: 5.63- 7 June Newcastle Permanent: 5.49- 30 May People's Choice Credit Union: 5.39- 30 May Pepper Money: 6.04- 5 June Qudos Bank: 5.44- 29 May RACQ Bank: 5.39- 3 June RESIMAC Financial Services: 5.89- 11 June 5.79- 3 June Suncorp: 5.65- 30 May Teachers Mutual Bank: 5.49- 1 June The Mutual Bank: 5.49- TBC Ubank: 5.59- 29 May UniBank: 5.49- 1 June Unloan: 5.49- 20 May Virgin Money: 6.19- 6 June Shame list: Banks yet to cut Adelaide Bank: 6.04 Arab Bank Australia: 5.7 Aussie: 5.89 Australian Military Bank: 5.89 Australian Unity: 5.79 AusWide Bank: 5.84 Bank First: 5.74 Bank of China: 5.68 Bank of Sydney: 5.79 Bank of us: 5.89 Bank Orange: 5.69 BankWAW: 5.54 bcu: 5.74 Bendigo Bank: 5.89 Beyond Bank: 5.89 Bluestone: 6.79 Border Bank: 5.59 Broken Hill Bank: 6.64 Cairns Bank: 5.99 Central Murray Credit Union: 6.99 Central West Credit Union: 6.04 Coastline Credit Union: 6.69 Community First Bank: 5.74 Credit Union SA: 5.74 Defence Bank: 5.84 Dnister: 5.79 Easy Street: 5.84 Family First Credit Union: 5.7 Fire Service Credit Union: 5.84 First Option Bank: 5.74 Firstmac: 6.03 Freedom Lend: 5.9 G&C Mutual Bank: 5.74 Gateway Bank: 5.7 Geelong Bank: 5.89 Goulburn Murray Credit Union: 5.94 Great Southern Bank: 5.89 Horizon Bank: 5.64 Hume Bank: 5.74 Illawarra Credit Union: 5.74 IMB: 5.79 La Trobe: 6.54 Laboratories Credit Union: 5.95 Liberty Financial: 6.24 5.74 Mortgage House: 5.64 MOVE Bank: 5.69 MyState Bank: 5.79 NICU: 5.74 NRMA Insurance Home Loan: 5.78 P&N Bank: 5.88 Pacific Mortgage Group: 5.64 Police Bank: 5.59 Police Credit Union: 5.74 Qantas Money: 5.93 QBank: 5.74 Queensland Country Bank: 5.74 Reduce: 5.74 Regional Australia Bank: 5.69 resi: 6.14 South West Slopes Bank: 5.95 Southern Cross Credit Union: 5.98 Sucasa: 6.05 Summerland Bank: 5.59 The Capricornian: 5.64 The Mac: 5.67 Tiimely Home: 5.79 Transport Mutual Credit Union: 6.69 Unity Bank: 5.74 Up Home Loan: 5.75 Warwick Credit Union: 6.14 Well Money: 5.81 Woolworths Team Bank: 6.34 Yard: 6.14 Yellow Brick Road: 6.64 MORE: Finder's full list of lenders and their updated rates here
Daily Mail
19-05-2025
- Business
- Daily Mail
The cities where house prices are set to surge this year as interest rates are slashed
House prices are set to surge in 2025 and 2026 as the Reserve Bank slashes interest rates, a major bank says. The Reserve Bank of Australia is broadly expected to cut interest rates on Tuesday, taking the cash rate from 4.1 per cent now to 3.85 per cent. The futures market regards a May 20 rate cut as a 96 per cent chance, and sees the RBA cutting rates four more times by early 2026. Another 100 basis points of relief would see the cash rate fall to 3.1 per cent for the first time since February 2023, and see the middle house price climb above $1million in Brisbane, Melbourne and Canberra. The Bank of Queensland 's chief economist Peter Munckton is expecting Australian capital city house prices to climb by 11 per cent over 2025 and 2026, including a six per cent increase next year following a series of rate cuts. 'The expected house price rise over the next couple of years - around 11 per cent - is projected to be at the lower end of the 10 to 15 per cent range that typically occurred after monetary easing cycles. This reflects the low level affordability,' he said. An 11 per cent increase over two years would see the typical capital city house soar from $1.009million to $1.123million with a heavy weighting towards Sydney, based on data from Cotality, previously known as CoreLogic. 'I expect the largest house price rises over the next couple of years to be in the more affordable cities,' he said. 'Affordability continues to an important theme in the housing market, with the fastest price growth in lower-priced houses and slowest in higher-priced houses across all capital cities.' Cotality Australia's head of research Eliza Owen said a third of Australian homes were now worth more than $1million 'with that vast amount of money buying less in the housing market than ever before'. 'Australia's million-dollar housing markets are in part a reflection of our wealth and prosperity as a nation,' she said. 'After all, housing markets wouldn't have a million-dollar price tag if at least some of Australians couldn't come up with that level of finance.' Perth, already Australia's strongest performing housing market with high rental yields, was expected to a see a 15 per cent increase over two years, taking the median price from $847,518 to $979,222. 'The Perth market is only modestly over valued despite the very sharp house price rises over the past couple of years,' Mr Munckton said. Darwin, Australia's most affordable capital city market last year at $586,699, was expected to see a 14 per cent surge, taking mid-point prices to $671,653 by the end of 2026. Melbourne, an underperforming market in 2024, was tipped to see a 12 per cent increase, taking prices from $917,616 to $1.031million. 'Melbourne is also modestly expensive although better value than Sydney, Brisbane and Adelaide,' he said. Adelaide, a soaring market despite weaker population growth, was also forecast to see a 12 per cent increase, which would see prices rise from $866,327 to $973,318. Brisbane, a strongly performing market last year, was tipped to see an 11 per cent increase, taking prices from $977,575 to $1.088million. Sydney, Australia's most expensive housing market, was predicted to see an 8.8 per cent increase, which would see values climb from $1.471million to $1.598million. Hobart was expected to see a 10 per cent increase, taking prices from $693,924 to $764,774. Canberra, the home of federal public servants, was expected to see a 10 per cent increase that would take prices from $965,910 to $1,064,529. Ms Owen said the growing number of cities with $1million homes was bad for young aspiring home buyers. 'The rate of home ownership has gradually declined over time, particularly among younger, low-income households where income cannot keep pace with growth,' she said. 'The average age of first-home buyers has increased, and increasingly wealthy households are stuck renting for longer, which increases competition for low-income renting households.' Mortgage debt levels were only likely to keep soaring, as the wealth divide widened. 'Housing debt has also blown out to keep pace with rising values relative to more subdued wages growth,' she said. 'With values expected to continue rising on the back of rate falls in 2025, the wealth divide between home owners and non-home owners is also likely to expand.'
Daily Mail
12-05-2025
- Business
- Daily Mail
BREAKING NEWS The good news for Aussie home borrowers - but there is a catch
Australian home borrowers can now get a much lower fixed mortgage rate with ANZ the latest to slash charges. ANZ on Friday slashed two-year fixed rates by 35 basis points to 5.39 per cent - the lowest among Australia's Big Four banks. The move was made ahead of the Reserve Bank's May 20 meeting, with financial markets broadly expecting another rate cut next week. Canstar data insights director Sally Tindall said the banks were trying to lure in new customers before the next rate cut. 'The bank has one eye on the possibility of cash rate cuts, potentially as soon as 20 May, and another on locking new customers in, using a relatively competitive fixed rate as the hook,' she said. While ANZ has the lowest fixed rate among the Big Four banks, Bank of Queensland has an even lower two-year fixed rate of 4.99 per cent. 'A mortgage rate starting with a "four" is a crucial threshold psychologically that could prompt some borrowers to give up their seat on the variable rate rollercoaster,' she said. 'However, by doing so they would be giving up the potential for further cuts in the fixed-rate term.' The 30-day interbank futures market is expecting the Reserve Bank to cut interest rates by another 100 basis points by the end of 2025, from 4.1 per cent now to 3.1 per cent for the first time since February 2023. The headline and underlying measures of inflation are both below the RBA's two to three per cent target for the first time since 2021. A 25 basis point RBA rate cut on May 20 would take the cash rate down to 3.85 per cent for the first time since June 2023.
Yahoo
09-05-2025
- Business
- Yahoo
Major bank's mortgage move ahead of RBA decision: 'Market heating up'
ANZ has cut its fixed rates less than two weeks before the Reserve Bank of Australia (RBA) meets to decide whether to hike, hold, or cut the official cash rate. The Big Four bank has reduced its offers by up to 0.45 per cent just two days after Commonwealth Bank (CBA) made a move on its variable rates. ANZ's lowest rate is now 5.39 per cent for those who fix it for two years, which is a fall of 0.39 per cent. This means ANZ now offers the lowest one and two-year fixed rates compared to Westpac, NAB, and CBA. NAB has the lowest three, four and five-year fixed rates. Aussie couple makes $500,000 in just 55 days after knock on the door: 'Absolute steal' Cashless concern as date Australia will ditch physical currency revealed Average amount Australians have stashed in savings by age revealed: '$811 to $130,000' Canstar's Sally Tindall said this movement is a promising sign of what could come from the RBA on May 20. 'The fixed rate mortgage market is finally heating up with cuts in the last month from lenders big and small including NAB, Macquarie Bank and now ANZ," she said. 'The bank has one eye on the possibility of cash rate cuts... and another on locking new customers in, using a relatively competitive fixed rate as the hook." ANZ isn't the only bank to cut fixed rates ahead of the Board's May of Queensland and Police Bank have both launched 4.99 per cent rates, which are the lowest on the market. Tindall said nine lenders have moved in this direction in recent days. 'A mortgage rate starting with a '4' is a crucial threshold psychologically that could prompt some borrowers to give up their seat on the variable rate rollercoaster," she added. "However, by doing so they would be giving up the potential for further cuts in the fixed-rate term. 'If you are weighing up the option of fixed versus variable, understand what might suit your finances better and make sure you spend time shopping around for a competitive deal. 'Ultimately, this rate slashing is good news for borrowers. "Two of the big four banks have cut fixed rates within a month of each other and we expect more banks to follow suit, however, lenders will probably have to consider fixed rates in the '4's if they want to get traction.' A poll of more than 3,700 Yahoo Finance readers found 69 per cent wouldn't fix their rate as they fear they might miss out on savings from further RBA rate cuts. All the Big Four banks are expecting an interest rate cut in May. Here's what they are forecasting for the rest of the cycle: CBA - Three cuts in May, August and November to bring the end-of-year cash rate to 3.35 per cent Westpac - Three cuts in May, August and November to bring cash rate to 3.35 per cent NAB - Five cuts in May, July, August, November, and February to take cash rate to 2.60 per cent ANZ - Three cuts in May, July and August to bring cash rate to 3.35 per centError while retrieving data Sign in to access your portfolio Error while retrieving data
