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Real estate agents are reporting that they've seen a big increase in the number of properties listed in the last three months. Surprisingly, many of them, particularly in Brisbane and Hobart, have only been in the hands of the current owners for less than three years. Many are being sold by first home buyers and investors. Sadly this is one of the impacts of [...]
Yesterday, the Reserve Bank of Australia announced the third cash rate rise in as many months. Whilst this seems a lot, this is the first of any rate rises we've seen since October 2011 when the rate started dropping from 4.75%. The cash rate is currently sitting at 1.35% and while the actual interest rate charged by lenders is higher, the interest we're paying [...]
For many people, a mortgage is a "set and forget" type of thing. If that's you, now is the time to change! Getting a mortgage sometimes feels like you're running a half marathon. If you're doing it against the clock, it's like running that half marathon at a sprint. It can be hard work. You have to find all those payslips, bank statements, supporting [...]
The aim of securing the “right” mortgage is always about getting the best combination of rates and features to suit the borrower. For some, this will be getting the absolute lowest interest rate because the aim is to pay the mortgage off asap. No bells, no whistles, just the cheapest rate. For others, they may be willing to pay a little more so they [...]
There's a whole lot of hype you can get caught up in right now relating to the property market and interest rates. The media is reporting huge price growth for property and there are some ridiculously low interest rates available. But you need to remember one thing: Does it work with your game plan to buy, sell or re-finance right now? If it's appealing, [...]
There are lots of great reasons to refinance your home loan. The best reason of all is to save money. If your mortgage is more than a couple of years old, it’s definitely a good idea to take a look at your interest rate and the features of your loan. Could you be paying less interest? Are you paying for features that you don’t [...]
Interest rates! They’re the talk of the town right now. We can get fixed rates for owner occupiers below 2% which is absolutely unheard of in Australia. Never before has money been so cheap in this country. But what does this mean for you? If you have a home loan you should seriously consider re-financing. Talk to your broker (or me) about your circumstances [...]
Melbourne Cup Day is known to be a day of rate changes and this year has proved to be no different with the Reserve Bank of Australia yesterday announcing a cut in the cash rate to 0.1%. And they’ve promised to hold it there for three years. This is unheard of! These actions are being taken in a bid to stimulate the economy on [...]
The start of a new financial year is a great time to look at your finances. How are yours looking? How long since you checked the interest rate on your mortgage? Is it still competitive? Are you paying for features you don't need and don't use? Are there features that you would like to have on your loan - like an offset account? Are [...]
