Archive for Interest Rates – Page 2

Are you paying high rates on your mortgage? Talk to my Guru and save buckets of money!

Every time I learn something new I do some research on it and when I am sure of all the facts I like to share my knowledge and help everyone.

I am a slow learner… Even though I buy investment properties, I had always trusted someone else to look after me with my mortgage rates as I was too busy selling real estate… until not too long ago!

Just by accident, speaking with someone about rates I discovered that I could go directly to my bank and ask them “what can you do about dropping the interest rate that I am currently paying” And guess what? They did!

After more research I found out that I could ask my bank if they could drop to 4,65% as another “mob” was offering me that rate  and guess what? Yep, they did! Gosh! That was amazing!

So I told a friend of mine to do the same with her bank but her bank was not able to offer what mine did for me. Even when she asked them how much it will cost to discharge her mortgage so she could go elsewhere, her mortgage officer did not try to retain her by offering a better rate.

I cannot assure you that you can get 4.65% rate or better but I can direct you to the right person to find out how much you can be offered.

It will cost you nothing to ask. Its never too late! I learned now, still in time to get the benefit of what I learnt.

Call me and I will redirect you to my “Guru” to help you to save “buckets of money” like me!

Financing for better rates. Is it possible?

I have been selling real estate for a long time now and sometimes I advise my clients to go to a Broker to get their finance when they have not approached anyone else.

Talking to a lot of people I have found out that they just accept whatever the Banks are offering and also discovered that many of them are not aware that you can ask for discounts on the rates they are offered.

I came across a fantastic contact that has offered me and my clients an opportunity to get better rates that are being offered.

So if you are interested in having a chat let me know.

Rates on hold because of the upcoming election? That would be my guess…

The Reserve Bank of Australia has left the interest rates at a record 2.5 pc low with rates cut eight times since November 2011 in a bid to ease the transition to a less mining-dependent economy and prevent too much of a surge in unemployment.

It is my opinion that the rates were left on hold because of the upcoming federal election with voting this Saturday 7th August. So don’t forget to head down to your local voting centre and make your vote count on election day!

Polling places near Sorrento WA 6020

  • Sacred Heart College (Moore)Hocking Parade, SORRENTO
  • Sorrento Primary School (Moore)Elfreda Ave, SORRENTO
  • Hillarys Primary School (Moore)Lymburner Dr, HILLARYS
  • South Padbury Primary School (Moore)Warburton Ave, PADBURY
  • Marmion Primary School (Moore)Cliverton Ct, MARMION
  • Duncraig Primary School (Moore)Roche Rd, DUNCRAIG
  • Padbury Primary School (Moore)MacDonald Ave, PADBURY
  • St Marks Anglican Community School (Moore)St Mark’s Dr, HILLARYS
  • Poynter Primary School (Moore)39 Poynter Dr DUNCRAIG, DUNCRAIG
  • Glengarry Primary School (Moore)Doveridge Rd, DUNCRAIG

Not in Sorrento and need to find a polling place near you? Head to the Australian Electoral Commission website and just put in your suburb to find out where you can go.

May the best party win!

Interest Rates cut again with a brand new record low!

After much speculation, the Reserve Bank have decided to cut the cash rate to a historic low of 2.5% in their August board meeting. This drop of 25 basis points is the first since the most recent cut in May, where the rate was taken to 2.75%, its lowest level in 53 years.

The financial year may be well and truly under way, but rates are still exceptionally low, so it’s not too late to check that you’ve got the right home loan for you. The RBA decision today may have taken the rate to unseen lows, but regardless of this, you might still be paying more than necessary. By finding a better deal, you could effectively be organising a rate cut of your own.

Maybe this is the perfect time for you to make an appointment with your finance broker to review your home loan!

RBA alert Rates to stay on hold

The Reserve Bank of Australia has decided to keep the cash rate ON-HOLD today in their monthly meeting – meaning that home owners will have to face another month of interest rates at their current levels.

This time last year the rates were at 3.5% which puts the current rate now at an historic low.

The Australian dollar dropped after the announcement, and is buying 91.9 US cents and is a huge difference as you can see from the table below showing that in the past year it has dropped from from a high of 1.05 US cents.

What effect do you think will happen to the Australian Economy or even on your own personal economy , I’d love to hear what my readers think about it?

Sorrento Living US Dollar Exchange Rate

Interest rates below 3 per cent since it began setting monetary policies in 1990

In an attempt to counter slowing growth in the country’s mining sector, the Reserve Bank of Australia announced a decision to lower the cash rate by 25 basis points, effective 8 May 2013.

With a record low of 2.75%  the NAB was the first of the big four banks to lower its standard variable home loans. It cut the rate by 25 basis points to 6.13 per cent per annum.

Commonwealth Bank also passed on the full rate cut this afternoon, lowering its standard variable home loan rate to 6.15 per cent with effect from May 13.

Westpac lowered its rates just before 5pm today, bringing its standard variable mortgage rate down by 25 basis points to 6.26 per cent, with effect from May 20.

After NAB and CommBank’s moves to pass on the 0.25 basis point cut in full, Westpac said they had put their interest rates under review. ANZ Bank will make a decision on interest rates on Friday as part of its regular review.

The cut would be welcomed by families and by small businesses and would provide a boost to other areas of the economy and help sustain long-term growth.

Lowest Interest Rate for Australia since Global Financial Crisis in 2009

For those who aren’t already aware of what’s going on in the Finance Sector the RBA Board decided to reduce the cash rate by 25 basis points to 3.0 per cent, effective 5 December 2012 which is the lowest it has been since the height of the global financial crisis in 2009.

This means that mortgage payments will be down and you will have more money to spend on your family at Christmas or put into your savings to help save for that trip you have wanted to go on for so long.

Have you ever wondered what the rest of the world’s interest rates are compared to Australia’s? Thought about making a scene change and moving to a new country?

Here is a graph that shows other countries Interest Rates.

Sorrento Living World Interest Rates Comparison

Expected guests and home open time for this weekend Sunday 11th November

This week was a busy one with Melbourne Cup and the Reserve Bank keeping the Interest Rates on hold and oh and how could I forgot that my handsome nephew Michele and his friends Davide and David from Italy arrived on Tuesday to stay with me for a little while before they take off on their tour of Australia.

There were two 777’s that landed on Tuesday evening at Perth Airport and would you believe that my three were the last ones off but emerged safely with suitcases and surfboards in tow.

I was lucky to see them all not long ago on my whirlwind trip to Italy for one week and have been looking forward to seeing them here in Perth ever since.

They will keep my weekends busy for a while along with my home opens.

The Reserve Bank of Australia finally cuts interest rates to 3.25% the lowest in 3 years

The Reserve Bank of Australia decided to finally cut interest rates at their official meeting, lowering the cash rate by 0.25 basis points to 3.25% – the lowest in 3 years.

Despite the Reserve Bank delivering an early Christmas present, only the Bank of Queensland have moved .20 with the other big banks still in discussion. Should the banks decide to pass the cut the decision will see repayments on the average mortgage of $300,000 drop by almost $50 a month.

Take a look at the Interest Rates from January 1992 to October 2012.  What are your thoughts about the decision?

Australia Interest Rates January 1992 to October 2012

 

Interest on hold again this Month so buyers be quick to purchase and get all the good rates today

The Reserve Bank is helping us. Are the Banks?

Well, I just heard that the Bank holding all my mortgages, WestPac is offering 5.69% for 3 years and 5.99% for 5 years, I have not checked the others.

Shall I fix or not fix?

I, personally will not as I am hoping that the Reserve Bank will have at least 2 more cuts until the end of the year. Or maybe just one in October or December.

After the second cut I may do something, I will not “push” my luck.

Miserable Month of July for sale as I found out from most Agents I spoke with. I spent 11 days away in Europe and Dubai, so property was not in my calendar.

Except I was browsing properties in Italy and saw some really good buyes for under $100,000 Euros. I did not know that these prices existed. Not in Perth or maybe not in Australia. Amazing the difference of lifestyle and specially prices in everything specially food. Cheaper to live there but I will not change Perth for any place in the World.

Anyway, interest rates are on hold and it is time to get your property now either to live in or for investment. Don’t wait for tomorrow and you may miss the boat either on price or higher interest rates.

Be an owner not a renter. Pay your own mortgage not somebody else’s mortgage.

 

Interest rates down again this Month. Hurry, time to buy more and increase your portfolio.

The sign of the times…

0.25% lower from the RBA. What are the Banks going to do?

I know you are paying less on your mortgage now so that will definitely improve the market. May takes few Month but I think would be a lot healthier next year.

Prices are still dropping because we were too high in the first place.

I have been having good home open attendance and enquiries on properties has increased.

Buyers are out there but they are watching the market and few puts pen on paper.