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Archives for October 2019

Do you consider yourself to be a ‘spender’ or a ‘saver’?

Are you paid weekly, fortnightly or monthly? New findings from Xero indicates that how often you’re paid may influence whether you’re a saver or a spender. Xero has gathered data to explore payday behaviours across the country, and revealed that rushes of 'payphoria' appear to sweep the nation each time we're paid.   Spending big & the payday pinch Xero's findings revealed that one in three Australians spend more on payday than usual, because they believe they work hard and … [Read more...]

Q&A Video: 5 ways to Take Advantage of Low Interest Rates

What are 5 ways you can take advantage of low interest rates?   Watch our short video to find out.       … [Read more...]

First Home Loan Deposit Scheme: it’s all in the details (Oct 2019)

The dream of buying your first home with only 5% deposit without having to pay Lenders Mortgage Insurance (LMI) may be getting closer, with the Government’s First Home Loan Deposit Scheme due to commence 1 January 2020. Many first home buyers have the ability to make repayments on a mortgage, the problem lies in how long it takes to save a 20 percent deposit. In fact, the Reserve Bank of Australia says that a household saving 15 percent of their income (based on the before-tax median), will … [Read more...]

How have the lenders responded to the RBA October 19 cash rate cut?

Following the RBA's cash rate cut for October, here's a summary of the lending cuts announced as at 5:30pm AEST 3 October, 2019.   CBA rate changes (effective 22 October) : - Rates on Owner Occupier variable loans (both Principal and Interest and IO repayments) will drop by 0.13. - Rates on Investment variable loans (Principal and Interest repayments) will drop by 0.13. - Rates on Investment variable loans with IO repayments will drop by 0.25. BankWest rate changes … [Read more...]

RBA Cash Rate – October 2019

At its meeting today, the RBA Board decided to reduce the cash rate by 25 basis points to 0.75 per cent. Here are some of Philip Lowe's commentary surrounding the decision: The Australian economy expanded by 1.4 per cent over the year to the June quarter, which was a weaker-than-expected outcome. A gentle turning point, however, appears to have been reached with economic growth a little higher over the first half of this year than over the second half of 2018. The low level of interest rates, … [Read more...]

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