RBA-purple-header

Reserve Bank of Australia keeps cash rate at 1.75%

By | News | No Comments

The end of the financial year is nearly upon us, and the Reserve Bank of Australia has just announced the outcome of its board meeting. The Reserve Bank of Australia has decided to leave the official cash rate at 1.75%. In making this decision the RBA resisted the temptation to lower rates further despite Australia’s low inflation rate which has dropped below their target range of 2 – 3%. Better than expected GDP figures, albeit strongly driven by exports, appear to have influenced the Reserve Bank to take a patient approach for the time being. Even though the cash rate has remained unchanged, it’s still wise for us to talk to ensure you still have the appropriate financial solution for your current circumstances.

Read More

Haven Newsletter – Winter 2016

By | Haven Newsletter | No Comments
Welcome to our winter edition of Haven. In 2015 regulators sought to apply the brakes to investment lending and this saw many of the country’s larger lenders tighten up on investment loans. The changes made by the lenders meant borrowing for an investment property was in many cases tougher, however there are still many funding possibilities out there. Check out our article on how to improve your investment borrowing power and pick up the phone if you’d like to talk through your situation. With many Gen Ys staying in the family home late into their twenties, the risk of them becoming a long-term financial burden on their parents is a new reality. We take a look into the importance – for both your savings and your child’s budgeting skills – of charging your adult kids board. I hope you enjoy this edition of Haven. If you have any questions about...
Read More
RBA-red-header

Reserve Bank of Australia drops cash rate to 1.75%

By | News | No Comments

Today, as the end of the financial year draws closer, the Reserve Bank of Australia has announced the outcome of its board meeting and it has decreased the cash rate by 25 basis points. The official cash rate is now 1.75%. In taking this decision it appears the Reserve Bank has reacted to concerns around the relative strength of the Australian Dollar and the impact this is having on exporters and tourism, talk of a slowing housing market and new data showing inflation has dropped below their target range of 2.5 – 3%. The market is speculating that lenders may not pass the decrease on in full, citing increased funding and regulatory costs. Therefore a fresh round of competition is likely to be sparked amongst lenders so it is a great time for us to review current finance arrangements. How does this impact the average mortgage holder? Here is a…

Read More
haven-article1-header1

How to be a first home buyer

By | News | No Comments
While many first home buyers might feel thwarted by escalating property prices in some capitals, plenty are still taking the plunge, spurred by low interest rates and the great Australian dream of owning your own piece of turf. According to the Australian Bureau of Statistics1, first time buyers currently account for about one in six home loans. So just how do you get into the market when affordability is an issue? While not easy, for most the keys are sacrifice and compromise. Here are our tips to help first home buyers make a move. Saving for a deposit There is no time like the present to start stashing your cash for a deposit. The longer you put it off, the harder it can be to develop good savings habits. Unless you win the lottery, inherit or receive some other windfall, chances are you will need to make sacrifices to save. This may mean finding cheaper rent or moving back in with parents,...
Read More
RBA-pink-header

The Reserve Bank of Australia have kept cash rate the same

By | News | No Comments

The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%. This decision was forecast by most commentators as the Reserve Bank continues to assess the impact of recent upward movements in the Australian dollar and positive economic news around employment and retail spending. Complicating the issue is talk that lenders may increase interest rates independent of the Reserve Bank cycle, citing increased funding and regulatory costs. Therefore even though the cash rate has remained unchanged, it’s still wise for us to talk to ensure you still have the appropriate financial solution for your current circumstances. Get in touch today to make sure you are taking advantage of regular changes in the increasingly competitive mortgage market.

Read More
RBA-pink-header

Again the RBA keep the cash rate at 2.00%

By | News | No Comments

The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%. This approach was again predicted by many commentators as the Reserve Bank ignored recent scare mongering around the Australian housing market as it continues to assess the impact of movements in the Australian dollar and a volatile share market. The task of the RBA was more difficult this month due to the timing of their meeting and a lack of key economic data being available, both of which supported a wait and see approach. Even though the cash rate has remained unchanged, lenders are making daily changes to lending rates so it’s still wise for us to talk if we haven’t spoken in a while to ensure you’re still in the right finance solution.

Read More