Untitled. With the already record low official cash rate of 0.25%pa, the Reserve Bank of Australia has once again decided to hold interest rates where they are, with no end in site of the COVID-19 economic downturn, it is predicted that this rate will remain for some time.
The RBA stated that “The Bank’s mid-March package of support for the Australian economy is working as expected. There is a very high level of liquidity in the Australian financial system and borrowing rates are at historical lows. Authorised deposit-taking institutions are continuing to draw on the Term Funding Facility, with total drawings to date of around $29 billion. Further use of this facility is expected over coming months.” The Federal Government’s HomeBuilder Grant is now underway, with most states have issued guidance as to how the scheme will be managed and how to apply. Official Interest Rates Remain Unchanged. At the final Reserve Bank of Australia meeting of the year, the decision has been made to keep official interest rates on hold.
It remains at a record low 0.75%pa. Rates on Hold - Is it time for a Home Loan Refinance. As expected by the majority of economists, the RBA has decided to keep interest rates on hold this month.
After three cuts in five months, the official cash rate remains at a record low 0.75%. Is it Time for a Home Loan Refinance? Other than your mortgage, do you have other debts that you’d like to clear? Perhaps it’s time to consider refinancing your home loan. Because mortgage interest rates can be substantially lower than, say, a credit card, consolidating all of your other loans and credit cards into your home loan can save you a considerable amount of money.
Royal Commission yet to affect Interest Rates. In the first meeting of 2019, the Reserve Bank of Australia has decided to start 2019 where it left off in 2018 – with official interest rates at 1.50%pa.
In what will no doubt result in the biggest shake-up in the Australian financial sector, the head of the royal commission on the financial sector, Kenneth Hayne has delivered a series of recommendations. But for mortgage holders and potential home-buyers, the question is: “how will this affect me?” In fact, many of the changes that affect obtaining a mortgage have already been in place since last March. Official Interest Rates on Hold – but for how long? The Reserve Bank of Australia has yet again kept the official cash rate on hold at 1.5%pa.
This has been steady for more than two years – but there are signs that these record low official interest rates may be close to the end. It’s not just Australia – cash rates around the world have been at a record low as well. But with the US raising their official interest rate for the first time in many years, it’s time to consider that a rate rise is likely to occur in the not-too-distant future. So if you’ve been thinking of reviewing your options, don’t leave it too long. RBA Interest Rates remain at 1.5%pa. Another first Tuesday of the month, no change – the RBA has announced official interest rates remain at 1.5%pa.
Still in the middle of the longest inaction in the history of the RBA, experts believe the bank will hold steady at least into 2019. However, one previous bank board member has stated the case for raising the official interest rate sooner rather than later. That’s because interest rates around the world are beginning to creep up, with the US influencing this, thanks to a number of rate hikes expected this year. While no one can accurately predict what the board will do month-to-month, at some stage, rates will go up. On top of that, several Australian lenders have indicated they will be increasing variable mortgage interest rates. So, knowing this begs several questions: do you have a portion of your mortgage fixed? Steady, steady – Interest Rates remain at 1.50%. Nothing drastic happened in March to stir the Australian economy, so it was no surprise the Reserve Bank of Australia retained its neutral stance – the official cash rate remains at a record low 1.50%pa.
How home loan redraw works and why it's a handy loan feature. It’s one of the less glamorous home loan features, but the redraw facility deserves a second look.
Here’s why: The redraw facility explained A redraw facility lets you make additional repayments to reduce your variable rate mortgage balance and save on interest. If you pay more than your minimum scheduled repayments, then you’ll have money available to redraw from your mortgage. The redraw facility is a common feature of many home loans, it’s not available, though, on construction loans and only some lenders allow it for fixed rate loans. You can redraw funds if, and when, they are needed, or you can keep the funds in your mortgage to pay off your principal faster. RBA Still on Hold – Interest Rates Remain at 1.5% No doubt the Reserve Bank of Australia’s lunchtime meeting on the first Tuesday of every month is more exciting than the announcement that is made at 2:30pm.
However, from an outsider’s point of view, it seems not much has happened during their regular gathering as official interest rates remain on hold for the 8th month in a row. Despite the colder weather, housing prices across the country continue to be red-hot. Not only have prices in the bigger cities increased, but other areas are looking good as well. For example, rural optimism is high – 28% of all Australian farmers believe their economic outlook will improve further in 2017-18. On top of that, 59% of farmers expect conditions and interest rates will remain stable, giving Australian country areas much-needed good news. Interest Rates Remain on Hold with no Movement in Sight. “Stable and unwavering.”
Not a campaign slogan, although it could be the current motto of the Reserve Bank of Australia’s monthly meetings to discuss the official cash rate. Once again, the board has chosen to keep interest rates on hold with no movement on 1.5%pa since August last year. Although officially winter, the Australian economy hasn’t cooled down. Steady as she goes – RBA keeps interest rates on hold. The first few months of 2017 has seen the RBA forming a holding pattern on interest rates – the cash rate remains at the record low of 1.5%. While economists speculate about when (and what) the next move will be, most expect there will be no change for quite some time, and there is even speculation that the move could be down and not up.
This is, of course, is good news for mortgage holders. Steady as she goes – RBA keeps interest rates on hold. Melbourne Cup interest rates decision – on hold at 1.5% The Reserve Bank of Australia (RBA) has met today to decide upon the November monetary policy, and although The Melbourne Cup and RBA rate movements have been closely linked in recent years the board has decided to keep interest rates at a record low level of 1.5%. To many, the decision today involved weighing up continued weakness in inflation against recent strength in east coast property markets and Australian commodity export prices. “September quarter inflation was low on an underlying basis, but probably not low enough to trigger another cut just yet as it is in line with the RBA’s own expectations,” said AMP Capital chief economist Shane Oliver. “Economic growth in Australia looks reasonable, with the worst of the mining investment slump behind us and a rise in commodity prices is starting to boost national income again.”
Prices in Brisbane and Adelaide also increased by 3.6% and 3.3% over the same period, meaning nationally, the index has risen by 9.1% year to date. Like this: Another record low as interest rates fall to 1.50% In the lead-up to the Rio Olympics, a new Australian record has already been shattered, with the RBA once again cutting official interest rates from the historic low of 1.75% to an all-time low of just 1.50%.
This is on the back of the fact that the Australian property market remains strong. Knight Frank’s Australian Residential Review July 2016 indicates that, in the past 12 months, some regional areas have actually overtaken and eclipsed capital cities, with up to 17.8% growth over the past 12 months. If you live in a city, there’s no need to panic according to Core Logic data, the Home Value Index rose by 0.8% last month, with the already strong city home prices rising 6.1% overall since one year ago. So as we near spring, the traditional time for a reinvigorated interest in the property market, owners can rest assured their home will continue to be a safe investment.
Elsewhere, there are other positive signs for the future, such as full-time jobs rising by 34,500 in June. Like this: RBA keeps Interest Rates on hold at record low. It’s the first Tuesday of the month, and that means that the Reserve Bank of Australia (RBA) has met to determine its June interest rates policy. Following their decision to cut rates to a record low-level of 1.75% in May, members have chosen the ‘steady as she goes’ option, keeping rates on hold.
This continues the spate of good news for mortgage holders and investors alike. The Australian economy continues to show promising signs, with consumer confidence reaching its highest levels in 2½ years on the back of low interest rates and a surprisingly strong GDP report last week, which showed quarterly growth of 1.1% for an annual rise of 3.1% – the fastest pace in three years. “Australians’ perceptions of the economic outlook have likely been bolstered by the stronger than expected GDP data released last week,” ANZ head of Australian economics Felicity Emmett said. Like this: Is it time for a home loan review? The spring and summer selling season is starting to slow, home loan interest rates are at record lows – banks are now looking at a slow rise in rates, due to regulatory changes that will make our financial institutions amongst the strongest in the world, so there ever been a better time to perform a health check on your mortgage? Competition for your home loan has never been fiercer, and you will most likely be pleasantly surprised as to what’s on offer.
Reviewing your current situation is smart planning. 3 ways to benefit from the low interest rate environment. No change in interest rates again. Make sure you get the right accountant for your investment property. Are You a Proactive Rental Property Landlord? If you own a rental property or have ever considered investing in the real estate market you should know that the value of your investment can be significantly impacted by the way it is treated by your tenant. While disconcerting knowledge, it is useful to know. Product Focus – Combination Loans or Split Loans. Property or Shares - where should you invest? A Beginners Guide to Real Estate Property Investing. Loan Product Focus – Family Pledge Loan. Saving for your first home can be a huge hurdle for some first home buyers, who may not have even heard of a family pledge loan. If you are trying to save a deposit for your first home whilst paying rent to your landlord, it can seem like a mammoth task.
To make matters worse, by the time you save what you thought was enough, the goal posts could have moved as property prices increase and you have to keep saving to catch up with the market. Can you NOT afford Mortgage Protection? Imagine what would happen if you couldn’t pay your mortgage. You just never know what’s around the corner…you might be made redundant, you or your partner could become ill, or have an accident – or worse. Meanwhile, there’s your home – the bank still expects those monthly mortgage payments to be made, even if you’re not earning an income. However, this isn’t all about doom and gloom – it’s about reassurance. 3 Compelling Reasons to Get a Pre-Approval. If you are in the market to purchase a property, it is a good idea to be pre-approved by a lender for your loan for three good reasons.
Going through the pre-approval process is an important step in evaluating your financial situation. Should you renovate or demolish and do a full construction. So, you’ve decided that your current home doesn’t meet your needs and it’s time to do something about it, maybe a full construction or large renovation. The next big decision is whether your best course of action is to renovate and increase the size of your home, or consider demolishing the house entirely and build something completely new withy a full construction - a project home, or architect designed property. Step One – what do you really want? This might sound obvious, but it’s surprising how confusing the situation can become when you take all of the options into account. What is a 100% Mortgage Offset Loan Account? A 100% mortgage offset loan is very similar to an all-in-one loan. Rather than putting all your salary and other income into your loan, it goes into a mortgage offset loan account that is directly linked to your home loan.