🦘 Qantas’ Mega Sale on Flight Tickets, Mortgage Stress Hits 1 Million Aussie Households, NAB Drops Fixed Home Loan Rates

G’day everyone!

Here’s what we’ve got in store for you today:

• Qantas’ Mega Sale on Flight Tickets

• Mortgage Stress Hits 1 Million Aussie Households

• NAB Drops Fixed Home Loan Rates

Let’s have a look at the market snapshot before jumping into the news:

Qantas Slashes Fares in Surprise Mega Sale!

Got travel plans? Now might be the perfect time to pack your bags because Qantas just launched a massive sale, slashing over one million fares to more than 60 destinations!

Starting from just $109, you could score a one-way domestic economy ticket and be jetting off to places like:

• Ballina to Sydney for just $109

• Launceston to Melbourne at $119

• Adelaide to Melbourne for $129

• Even Cairns to Sydney for $199

But wait, it gets better.

These tickets aren’t just budget-friendly; they come loaded with perks!

We’re talking checked luggage, complimentary meals and beverages, free Wi-Fi, and the option to select your seat. That’s some high-flying value.

This surprise sale marks the airline’s sixth domestic and regional sale this year, and if history is any indicator, tickets are expected to fly off the shelves.

The sale wraps up at 11:59 PM on July 25, or whenever seats sell out – whichever comes first.

So, if you’re in the mood for a weekend getaway or planning your next holiday adventure, jump on this offer before it's too late!

Happy travels!

Mortgage Stress Squeezes 1 Million Aussie Households: Tax Cuts to the Rescue?

Mortgage stress in Australia is on the rise, with a staggering 1 million households feeling the pinch as of June, according to a new Roy Morgan report.

That's up by 88,000 from May, bringing the total to 30.3% of all mortgage holders.

The good news?

July’s stage-three tax cuts are poised to offer some relief - as long as the job market holds steady and the RBA doesn’t hike rates again.

Roy Morgan's CEO, Michele Levine, is cautiously optimistic.

The job market has been a bright spot, adding 673,000 jobs over the past year, which has helped ease mortgage stress a tad since early 2024.

Levine believes the new tax cuts will give households a financial breather, provided unemployment doesn’t spike and the RBA keeps rates unchanged.

The RBA will decide on July 31 whether to adjust interest rates again.

While the chance of a hike seems slim (one-in-four, per market predictions), inflation data set for release the same day could tip the scales.

Mortgage stress has surged after 13 rate hikes by the RBA, with the number of borrowers in arrears climbing to 1.6% in March, up from 1% last September.

Despite this, consumer confidence is showing signs of life, hitting a six-month high, thanks in part to the approaching tax cuts.

With the tax cuts now in play, Aussie households are hoping for a financial lifeline while keeping a wary eye on the RBA's next move.

Here's to a few less sleepless nights over mortgage repayments!

NAB’s Rate Slash: Fixed-Rate Magic for Stressed Homeowners

NAB is throwing a lifeline to stressed homeowners with a fresh cut in its fixed-rate mortgage!

As of July 22, 2024, the bank has reduced its three-year fixed rate for owner-occupiers paying principal and interest, making a strategic move before potential rate hikes from the RBA loom on the horizon.

For homeowners with at least 30 percent equity, NAB has lopped off 0.60 percentage points, bringing the rate down to an enticing 5.99 percent – a standout figure among the big four banks.

Even those with less equity in their properties aren't left out, with their rates seeing a downward adjustment too.

This move is catching eyeballs, especially since fixed rates have lost some charm recently, with only a small chunk of new and refinanced loans opting for them as of May.

Yet, for the wary borrower bracing for future RBA rate jumps, these fixed rates might be a siren call of certainty.

But, fair warning! Locking into a fixed rate means fewer perks like no offset accounts and restrictions on extra repayments.

While NAB’s new rates are tempting, choosing fixed over variable remains a key decision for homeowners, particularly with economic uncertainties ahead.

As the financial winds shift, keeping an eye on competitive rates and being ready to pivot when your fixed term ends could make all the difference.

With NAB now setting the pace, stay sharp to navigate the mortgage maze!

Cyber Hackers Selling Personal Info at 50% Off on Dark Web

In a stunning turn of events, hackers are flogging the stolen MediSecure data of nearly 13 million Aussies at a bargain rate on dark web marketplaces.

A massive 6.5 terabyte trove, bursting with personal and sensitive medical info, is now up for grabs at half its original price.

After MediSecure confirmed in May 2023 that it had fallen victim to a ransomware attack, the scale of the breach has just been brought to light.

Cybersecurity experts reckon the data’s initial sale went for a cool $50,000, but now it's on offer again for just $25,000.

That means, for $2 per record, data on which medications you've been prescribed (and why) could be someone's cheap ticket to a nasty business venture.

Jamie O'Reilly, founder of Dvuln, an Australian cybercrime intelligence firm, suggests this rock-bottom pricing strategy is likely intended to attract more buyers.

The bigger worry? Dark web sales are notoriously hard to verify, cloaked in encryption and anonymity, making it tricky to gauge exactly when or to whom the data was sold.

Despite government warnings to steer clear of such stolen data, this sale continues to underline the escalating risks of cybercrime.

With every major hack adding new pieces to the nefarious puzzle of identity theft and financial fraud, the call for improved cybersecurity measures has never been louder.

You Made It!

If you’ve read all the way up to here, we just wanted to let you know that you’re an absolute legend!

Time to go to work and show off how clued up you are about what’s going on in the business world 💪

Keep an eye out for tomorrow's newsletter. Until then, we’d love to get your feedback below!