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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...]

Australian housing market: Sept19

The CoreLogic August home value index results showed that national dwelling prices increased by 0.8% over the month. This is the first monthly increase in values since October 2017. Housing values across capital cities rose by 1%, with Sydney (1.6%), Melbourne (1.4%) and Canberra (0.8%) leading the way. While the lift in housing values is substantial, the recent growth is a continuation of the trend seen throughout the year whereby value falls were consistently losing momentum, and have … [Read more...]

Buying Canberra Property at Auction

You've found a property you like and it's being sold at auction. You're super excited because you've been looking at houses for ages and finally(!) something ticks all the boxes. The problem is, you're a little nervous because your previous experience with auctions consists entirely of ebay purchases.... But you really  like the house, so it's time to get up to speed with property auctions. We've compiled a list of things to do before (and on) the day of Auction to help ease your stress … [Read more...]

RBA Interest Rate Decision – 3 September 2019

  At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent.   After consecutive rate cuts earlier this year, the RBA Board's decision to leave the cash rate unchanged today was not unexpected.   Here are some of Philip Lowe's commentary surrounding the decision: The outlook for the global economy remains reasonable, although the risks are tilted to the downside. The trade and technology disputes are affecting international trade flows … [Read more...]

Fixed Rate home loans – Aug 2019

With some attractive fixed rates available at the moment, it's likely you've thought about fixing in some (or all) of your existing variable rate loan. Which then raises questions like, "But what are variable rates likely to do over the short-medium term?" Let's take a look at that a little closer. Please note analysis and commentary on interest rates provided here is based on data available as at 29 August 2019.   Cash Rate Futures Yield Curve The Cash Rate Futures Yield Curve … [Read more...]

Changes to Lending Assessment Rates and How it Affects You

You may think it's pretty easy to work out what you can afford to borrow. After all, there seem to be plenty of online calculators available where you plug in your details and voila, out spits a figure that a faceless lender will theoretically lend you. We're here to tell you there's a little more to it than than. Sure you may have worked out what repayments you're up for, and decided it's within the budget, but in terms of officially qualifying for a loan with a specific lender, a bit more … [Read more...]

Buy your first home: get started here

As a first home buyer, there is a lot of information for you to digest. You’re trying to work out whether your deposit is large enough to buy the house you want. You’re not sure which loan is going to be the right one for you. And you’re trying to get a sense of how auctions work, so when the time comes you can walk away with the winning bid.   To help make things a little easier for you, below you'll find the questions that many first home buyers come to us with. Just … [Read more...]

RBA Interest Rate Decision – 6 August 2019

  At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent.   After two months of consecutive rate cuts, the RBA Board has left the cash rate unchanged, as it waits to see the economic impact of previous rate cuts. Here are some of Philip Lowe's commentary surrounding the decision: Economic growth in Australia over the first half of this year has been lower than earlier expected, with household consumption weighed down by a protracted period of … [Read more...]

The Downside to Interest Rate Cuts. Have you fallen for this trap too?

Falling interest rates mean it's likely you're now paying less interest and your monthly home loan repayments have dropped. This is good news for home buyers and home owners, right? Absolutely!   So how can there be a downside to lower rates if it means you're saving money? We're not going to talk about the long term economic effects of low interest rates - perhaps that's a discussion for another day. But what we want to talk about is a sense of complacency we see in … [Read more...]

July 2019: Housing Affordability at an all time high

What is 'Housing Affordability'? Housing affordability refers to the relationship between expenditure on housing and household income. And according to the Housing Industry Association (HIA) Affordability Index, right now housing affordability is the best it’s been in 20 years. The HIA Affordability Index takes into account the latest dwelling prices, mortgage interest rates and wage developments. Which means that despite the fact that house prices have risen significantly faster than … [Read more...]

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