Mobile Menu
Locate
Contact
Rates
News

Contact

Call

1300 004 863

Mon-Fri: 8am-5:45pm
Sat: 9.30am-12pm
(branch hours vary)

Hume Connect (phone banking)

1300 551 619

Fax

F (02) 6051 3255

Email

E [email protected]

Contact Us

Rates

Need a home loan?

Spend time doing what you love, we'll make it easy and come to you.

Book appointment

Fixed Home Loans

Rates From:
4.85%^pa

Comparison rate*
3.39%pa

^Terms, conditions and lending criteria apply *Click for important information about comparison rate.

View All

Variable Home Loans

Rates From^
2.99%^*pa

^Terms, conditions and lending criteria apply *Click for important information about comparison rate.

View All

Personal Loans

Rates From
7.45%pa

Comparison rate*
7.66%pa

*Click for important information about comparison rate.

Learn More

Personal Credit Cards

Rates From*
11.95%pa

*Interest rate on purchases

View All

Personal Savings

Base Rate
0.75% p.a.

Bonus Rate Conditions apply.

Learn More

Stephen Capello and 1494 2AY, July 2022 RBA recap.

Hume Bank
10/07/2022

Our CEO, Stephen Capello, caught up with 1494 2AY's Kylie and Kev to discuss the Reserve Bank of Australia’s (RBA) July announcement and the new 1.35% cash rate.

Stephen reflected that the 0.50% increase was an anticipated move by the RBA, as they increased rates for the third consecutive month. The RBA is aggressively trying to curb inflation. We are all seeing the impact of inflation, with prices continuing to rise on items like fuel and fresh food.

When discussing the 0.50% rise, Stephen shared an example with listeners. If a customer had a $500,000 loan this would raise their monthly repayments by around $300 per month.

Kylie and Kev asked if we should expect more to rises to come, with Stephen answering that the RBA is signalling this. Inflation is broadly predicted to rise to around 7% by the end of the year, before falling back to their 2-3% target next year. Stephen noted that its clear the RBA will do whatever it needs to normalise monetary conditions over the coming months, following the support provided during the pandemic.  

Stephen mentioned that rising rates are already having a negative impact on house prices, falling for two consecutive months. However, rising rates should boost on returns on customers’ bank deposits.

Click play below to listen in for more.