You would have seen over the last few weeks that lenders have started to raise their variable home loan rates. We spoke it about it here previously, suggesting that a rate rise was imminent. But now that it's happened, what can you do about it?   Find out what your lender is doing Usually when one of the big 4 banks makes a move, the rest will follow. That's because the first bank to move their rates generally gives the others cover. The first lender takes all the heat and the … [Read more...]

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 around 2 per cent. The central forecast is for inflation to be higher in 2019 and 2020 than it is currently. In the interim, once-off declines in some administered prices in the September quarter are expected to result in headline inflation in 2018 being a little lower, at 1¾ per cent. Conditions in the … [Read more...]

Afterpay is one of the largest buy now, pay later scheme in Australia. With billion of dollars passing through its platform, Afterpay boasts over 2 million customers. The reason for Afterpay's rapid rise is its interest-free, instant purchase business model. To qualify, all a customer needs is a debit card, enough money for the first instalment and no proof of income. Customers then pay the remaining instalments fortnightly.   Are there risks? It's interest-free and instant. … [Read more...]

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 latest inflation data were in line with the Bank's expectations. Over the past year, the CPI increased by 2.1 per cent, and in underlying terms, inflation was close to 2 per cent. The central forecast is for inflation to be higher in 2019 and 2020 than it is currently. In the interim, once-off declines in some … [Read more...]

Anyone thinking about locking into fixed rate loan will generally spend a little time considering the future movement of interest rates. Here we share some tools that can provide some insight into what interest rates are expected to do over the short-medium term.   Cash Rate Futures Yield Curve The Cash Rate Futures Yield Curve shows how the market expects  interest rates (or more specifically the RBA cash rate) to move over the short-medium term.  The curve does not 100% … [Read more...]

If you’ve owned a house for a few years, you’re probably familiar with the way things used to be with interest rates. The RBA would meet on the first Tuesday of each month to make a decision about the cash rate. The Board would announce their decision and homeowners would sit with baited breath, waiting to see how the lenders would react. Who would be the first lender to increase their rates this time around? If the cash rate fell, would the lenders pass on the rate cut in full? How … [Read more...]

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...]

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...]

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...]

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...]

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...]

Despite offset accounts being around for years, there’s still many home owners who: a) don’t know about them; 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 that – … [Read more...]

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...]