Cheap money also allows people to borrow more with the average home loan in Australia reaching $500,000. Since the Federal election the average new home loan has lifted by around $60,000 or 16 per cent. Rate cuts and increased buyer enthusiasm for property have driven the gains. But with wages growing at a 2.2-2.3 per… Read more »
Hey gang, get up to speed on this week’s financial trends with my market updates. We’re in the midst of the profit reporting season from Australia’s major companies. Stocks which are meeting their performance expectations are being rewarded… but those which aren’t are really being caned by investors. Out of the results this week, for… Read more »
Australians started borrowing again before Christmas, with the value of new home loans up by 4.4% in December (seasonally adjusted), while personal fixed term loans rose by 3.5% according to data released today by the Australian Bureau of Statistics. The value of mortgages to owner-occupier rose by 5.1%, an eight-year high, and 17.9% over the… Read more »
Hey gang, get up to speed on this week’s financial trends with my market updates. As most of you would realise I have been the Reserve Bank’s biggest cheerleader for many years. In my view both Governor’s… current Philip Lowe and predecessor Glenn Stevens… and their boards have done a sensational job in managing monetary… Read more »
With Governor Philip Lowe confirming low rates are here to stay. Competition in the home loan market has continued to heat up. There are now over 30 lenders offering variable mortgage rates starting with a “2”. Lowest advertised rates on RateCity.com.au Variable rates Lender Advertised rate Reduce Home Loans 2.69% Well Home Loans 2.72% Homestar Finance… Read more »
Property prices are rising rapidly again in Australia’s two biggest capitals, Sydney and Melbourne, with values up 1.1% and 1.2% respectively, in January. The national rebound continued to start 2020, with the CoreLogic national home value index up by 0.9% in January. That takes the annual growth rate to 4.1%; the fastest pace of growth… Read more »
The bushfire devastation has been incredibly distressing for so many Australians this summer. The emotional and financial scars will be felt for a long time on so many levels. My heart goes out to those rebuilding their lives, homes and businesses. One of the biggest financial hits to these regions will be to the value… Read more »
Hey gang, get up to speed on this week’s financial trends with my market updates. It’s been an absolute rollercoaster week on financial markets trying to cope with the nervousness surrounding the Coronavirus pandemic, the arrival of Brexit and the profit reporting season in the United States. Share Markets would fall when the focus was… Read more »
NAB has cut the introduction rate on its iSaver account by 0.15 per cent and on its Reward Saver account by 0.11 per cent. It doesn’t sound much but when savings account returns are so low to start with it is quite a hit… particularly when there has been no change to official interest rates. … Read more »
For many people their superannuation is now one of their biggest assets, so it’s important to keep benchmarking how your fund is performing. So when your statement comes in the next few weeks, these are the industry average figures you need to know. Then ask yourself is your fund above or below average? According to… Read more »
