More rate cuts this to come this year?
For the second month in a row, the Reserve Bank left the cash rate on hold at 2.75% at its July meeting last week. The pressing question now is whether the central bank will drop the rate to a new record low of 2.5% at its meeting on the 6th August. Major lenders and leading property analysts are divided, with a number of commentators now confident of a winter rate cut.
If you have not done so already, consider booking in for a free home loan health check with me to ensure your home loan compares favourably against other products currently available. The combination of a historically low cash rate and competitive offerings from a number of lenders is providing many mortgage holders with an opportunity to refinance to a better deal. Did you know that some fixed rates are below 5% p.a.?
For those looking to get into the housing market, the current low interest rate environment can be extremely appealing and may be the catalyst for buying now. Lenders are competing for business and I can help you to review options from a wide range of lenders to find the most suitable product and lender for you.
Are you currently looking for a car loan? We have a panel of lenders offering a range of well priced motor loans to purchase many types of vehicles including motor bikes and campervans.
Because the vehicle is offered as security, you may be able to borrow at a lower rate than for an unsecured personal loan. Car loans are also generally based on a fixed interest rate, so you know exactly how much you will pay each month, and for between one and five years, although some lenders allow the flexibly to make extra payments.
Like cars themselves, car loans have evolved significantly over the past two decades, so it is worth investigating the different features they offer.
All borrowing applications need to be assessed and approved by the lender.
Outings in the Redlands:
Have you taken a day trip to Coochiemudlo Island? A short ferry ride from Victoria Point, “Coochie” is a family day-trip favourite with 4km of beautiful, safe swimming beaches, golf course, tennis court, boat hire, holiday units and restaurant. Watch out for the Coochie Island Craft Markets, held several times a year on the foreshore park.
Read more: http://www.coochiemudlo.net/
Free Home Loan Seminars:
Please come to one of my free seminars. Over the next few months I am offering seminars for home buyers, first home buyers and property investors. See my seminars tab above for more details and booking.