Only counting the big four banks, reported profits will come in at just over 14 billion for the first half of 2022 alone and include a 5 per cent increase from last year. The big four scrape by on a combined 7 million bucks each day.


Considering everywhere we turn, it's a doomsday scenario in the Aussie housing market; why do we believe the bank's BS?








The May RBA hike had banks instantly increase home loan rates, but two out of five didn't touch savings rates to match


Westpac's Consumer and Business banking chief says it all


"We know a change in interest rates affects every budget differently. Our customers have managed their finances carefully during the pandemic, with many putting more funds aside in their savings and offset accounts.

This means the majority of our customers are ahead on mortgage repayments and have a buffer available to help them manage an interest rate increase."



APRA statistics for April show Australian households have a record total of $1.27 trillion in the bank, increasing $281 billion since the pandemic



So, under the guise of our housing market being strong (demand crazily outstrips availability) and the savings of everyday Aussies exceedingly high (because we saved our own money) over the pandemic, we are supposedly in such a good position. (on average)



The banks have decided we should get to absorb the increase in loan repayments, yet somehow we only receive a smaller portion when it comes to our savings accounts



Blame the pandemic, Putin, petrol or our new government. We selected Albo's fresh greens over Scomo's end-dive, and now KFC cannot afford iceberg lettuce for a ten-dollar burger. We've hit one for sure.


All those Colonel's in meetings and replacing lettuce with cabbage is the master marketing plan? It's not roquette science; it's spinach, baby - the greens of profit.


It's us, Aussies - not entrusted giants of banking that rescue the nation from financial woe is Me's time and again. We are in the worst real estate and housing crisis in decades.


Add inflation, supply chain and interest rates numbers not seen in 20 years with a daily spoon-feeding of expectation – brace yourselves; it will not stop rising and costing; us – anytime soon.



Back to the banks and compare the market as the cute weasel says



Unless you're a shareholder, it may be time to look for another mortgage that can absorb your increased costs rather than just sucking it up from the big banks.


Did your bank pass the rate lift in full?

  • Adding $133 a month on loan worth $500,000 over 25 years
  • Adding $265 a month on loan worth $1 million over 25 years


Combined expenses climbing too fast hurt

  • Cost of living up over five per cent on last year
  • Electricity and gas prices are nuts
  • Petrol prices are criminal
  • Iceberg lettuce costs $10


The CBA, Westpac and Deutsche Bank forecasted another half a percentage point increase in July, while ANZ predicted the RBA would hike by a quarter of a percentage point next month and then deliver a half a percentage point increase in August – So double your $133 - $265.


What can we do?

Easiest - Major banks and smaller lenders can be a simple price match request to beat what the other banks offer. Your mortgage broker can do this for you using a pricing request.


Fixed rates

Locked in – the cheapest fixed rate on the market start at around 3.28% Talk to your broker, banks and lenders to find out more.



"We know new loans are [on average] at 2.49% interest and existing customers are at 2.92% – that's a difference of 0.43%; that's almost two rate hikes, so you can get yourself a buffer."

Canstar's Effie Zahos



Refinancing and comparison lending


Bank Australia Comparison


Aussie Home Loans


And you can try Instarent too - we enable any property owner to reduce third-party costs and save thousands a year on outsourcing your property management. It's easier than you think.


(Please note; we do not receive any referral payments)





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 Until next time and thanks for yours!



Sam Bloch


Sam Bloch