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RBA Interest Rate Decision – July 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here are Phillip Lowe's comments with respect to the Australian housing market. Inflation is low and is likely to remain so for some time, reflecting low growth in labour costs and strong competition in retailing. A gradual pick-up in inflation is, however, expected as the economy strengthens. The central forecast is for CPI inflation to be a bit above 2 per cent in 2018.Nationwide measures of housing … [Read more...]

Why is a lender asking so many questions about my personal situation?

The lender is asking for WHAT…. ? Long gone are the days where you give the lender a Group Certificate, sign a declaration to say you can afford the loan and walk out with half a million dollars. With the amount of documentation you need to provide to a lender these days, you’d be forgiven for thinking there’s a crime investigation happening and you’re the main suspect. Don’t worry too much though. We’re sitting right beside you and will share everything we know to help you walk away … [Read more...]

It’s time to stop hitting the snooze button on your Interest Only loans

Are you someone who delays the inevitable, pressing the snooze button just one more time to get an extra few minutes sleep in the morning? And then once you’re finally up, you’re against the clock to get out the door in time? You’re not the only one. Knowing your Interest Only (I/O) loans are set to expire soon and choosing NOT to review your strategy now, is a bit like hitting the snooze button. Perhaps you already know you should do something about it but like the comfort of making … [Read more...]

RBA Interest Rate Decision – June 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here are Phillip Lowe's comments with respect to the Australian housing market. Inflation is low and is likely to remain so for some time, reflecting low growth in labour costs and strong competition in retailing. A gradual pick-up in inflation is, however, expected as the economy strengthens. The central forecast is for CPI inflation to be a bit above 2 per cent in 2018. The Australian dollar … [Read more...]

2017/18 Canberra Property Report – Find it here

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What questions should I ask the Real Estate Agent?

You’ve been house hunting for what seems like months (because, well it HAS been months) and you’ve have finally found “the one.” It has the open plan kitchen you want, the separate living space for you to relax without being surrounded by kids toys and a lovely patch of lawn that you know won’t stay green once you move in. But, it ticks all the boxes and you want to take things further. To ensure you have the best chance of having your offer accepted by the vendor, here are a few questions … [Read more...]

RBA Interest Rate Decision – May 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here are Phillip Lowe's comments with respect to the Australian housing market. The housing markets in Sydney and Melbourne have slowed. Nationwide measures of housing prices are little changed over the past six months, with prices having recorded falls in some areas. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of … [Read more...]

Q&A Video: What can you do NOW to financially prepare for a new addition to your family?

Are there things you could be doing now, to ensure you're financially prepared for a new addition to your family? (Yes!) Watch our short video to find out. … [Read more...]

What is an offset account and is it worth getting one?

Despite offset accounts being around for years, there’s still many home owners who: a) don’t know about offset accounts; or b) have an offset attached to their home loan but aren’t using it properly.   We want to change that! Below we explain what an offset account is and how if differs from a basic home loan. We also explain how to determine whether an offset account loan is something you could benefit from.   Basic loan vs loan with offset A basic loan is exactly … [Read more...]

How can I maximise interest savings with my offset account for minimum effort?

You have an 100% offset account as part of a professional package loan and it’s correctly linked against your owner occupied home loan.* With each monthly statement, you can see you're saving interest but you'd like to see if you can push those interest savings higher. If you want to squeeze every little interest saving benefit from your offset account, here's a few things you can try.   Ensure all household income is paid into your offset account You should have all wages, tax … [Read more...]

Q&A Video: Why do you need a Pre-Approval in place before house-hunting?

Why do you need a Pre-Approval before you start house-hunting? Watch our short video to find out You can find more detail on the benefits of a Pre-Approval here. … [Read more...]

RBA Interest Rate Decision – April 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. The global economy has strengthened over the past year. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. The Chinese economy continues to grow solidly, with the authorities paying increased attention to the risks in the financial sector and the sustainability of growth. Globally, inflation … [Read more...]

What does, “Do your research!” actually mean when you’re trying to buy a house?

When you’re looking for a new home to buy, everyone always says, ‘Do your research!’ But what does that actually mean?! Let’s assume you’ve already done your research on the finance side of things and spoken to us about your options. You know how much you can comfortably borrow and have a pre-approval in place.  You’re ready to go house hunting. It’s now time to do some property market research! We’re all different when it comes to how much property research we want to undertake before … [Read more...]

How do regulatory changes in lending affect me as a borrower?

If you’ve worked for any Government Department over the last few years, you would be very familiar with the phrase, “change is the only constant.” Your Department’s probably merged with another, your area has moved to another section and perhaps despite the changes, you’re now back to exactly where you started – performing the same role as before. Boy do we know what that’s like. Over the last few years, the lending industry has seen unprecedented changes and with the Royal Commission into … [Read more...]

Q&A Video: Can you buy your first home without a large cash deposit? (Yes, you can!)

 Are you eager to buy your first home, but finding it hard to save a large cash deposit? There might be a few other ways you can get into your first home. Find out more in this video. … [Read more...]

RBA Interest Rate Decision – March 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. The Bank's central forecast is for the Australian economy to grow faster in 2018 than it did in 2017. Business conditions are positive and non-mining business investment is increasing. Higher levels of public infrastructure investment are also supporting the economy. Further growth in exports is expected after temporary weakness at the end of … [Read more...]

MMO named one of Australia’s “Top 25 Brokerages” in 2018 (The Adviser Magazine)

We're so excited to share the news!  MMO has been recognised as one of the top brokerages in Australia, securing a place in The Adviser’s "Top 25 Brokerages" ranking 2018. The Top 25 Brokerages ranking was revealed in the February 2018 edition of The Adviser, an industry publication for Australian mortgage and finance brokers. MMO was named #17 in "The Top 25 Mortgage Brokerages" ranking. This is the SECOND time we've been recognised as one of the best teams in the country!! We were the … [Read more...]

Let’s talk about home loan interest rates – What are they doing?

There’s been a lot of media commentary lately around the movement of interest rates. Are they going up?  When are they likely to go up? How much will they go up by? Whilst it’s difficult to accurately predict exactly what rates are going to do, there are a few tools we use to help us determine the likelihood of certain rate scenarios playing out. We want to share them with you here. Cash Rate Futures Yield Curve To get an idea of what's happening with interest rates, we like to keep an … [Read more...]

So you have the land, now how do you pay for the house?

So you’ve managed to buy a nice block of land at a fair price – Congratulations! Now comes the exciting part – building your dream home! We’re going to skip over the fun part where you where you look at display homes, decide on a plan (or come up with your own), find a builder, plan the landscaping, get the site surveyed and soil tested, research tap wear and tiles, weigh up the pros and cons of an indoor herb garden, consider heating and cooling options, check out window treatments, select … [Read more...]

RBA Interest Rate Decision – February 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. Inflation is low, with both CPI and underlying inflation running a little below 2 per cent. Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing. A gradual pick-up in inflation is, however, expected as the economy strengthens. The central forecast is for CPI inflation to be a … [Read more...]

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