Great news for homeowners as RBA cuts again
The Reserve Bank of Australia, has today, cut the official cash rate to the new historical low of just 2 per cent.
Recent economic data suggests the first rate cut has failed to have the desired impact, with consumer sentiment falling sharply in April. Last year, consumer sentiment declined 6.8% after the Budget was announced and remained weak for the rest of the calendar year. With this years Federal Budget due to be released later this month, the Reserve Bank may have reduced the cash rate to give consumer sentiment a boost ahead of the Budget announcement.
If February's rate cut is anything to go by, borrowers can expect their lender to pass the RBA's latest rate cut on, taking home loan rates to new lows, great news for home owners, investors and potential home buyers looking to get into the market.
This week we were approached by a home owner who had been in the same mortgage for the last nine years. We found a more suitable product and a much more competitive rate saving them over $1,000 in interest per month. If you have been in the same mortgage for years or are looking to enter the property market, now may be the perfect time.
To learn more about your home loan options, call us on 07 5562 0748 or visit
Read more: Reserve Bank of Australia - Media Release
Fixed Rate demand falls to its lowest in more then two years
The demand for fixed rate home loans has not been this low since February 2013. The latest national home loan approval data from Mortgage choice , reveals that fixed rate home loans made up just 17.91% of all loans written in April 2015, this is down from March 2015 which was 18.00%. The huge amount of speculation of interest rates being cut during this year, is believed to be the reason behind the fall in the demand for the fixed rate home loans.
The latest data from the Australian Bureau of Statistics found unemployment fell slightly in April, while underlying inflation rose 0.6% over the March quarter for an annual rate of 2.35%.
Australian Property Update Seminar
Blue Wealth Property, a leading authority on the property market, will be holding their Australian Property Update seminars in Melbourne, Sydney, Chatswood, Brisbane and Gold Coast over May & June.
Blue Wealth has helped thousands of Australians create wealth through property and at this event you will learn:
- How to use research to make great investment decisions
- The three keys to creating wealth through property
- How thousands of Australians are using their superannuation to invest in property
The Gold Coast seminar is being held on Wednesday, 3rd June at 6.30pm at the Mercure Gold Coast Resort, 64 Palm Meadows Drive, Carrara. We will be attending and if you'd like to join us or attend any of the other locations please email (email@example.com) or phone (07 5562 0748) us for the details.
Choices Newsletter Autumn 2015
Our latest quarterly Choices newsletter features Shaynna Blaze - Interior Designer and judge on The Block and Selling Houses Australia, providing kitchen styling tips plus:
- Mixed messages over interest rates
- Get yourself financially fit
- Housing Market Outlook
- Five must-have insurances
- Your financial questions, answered
To read the newsletter, click the following link - Choices Newsletter Autumn 2015
Money Chat Videos
Money Chat, is a series of short videos, released by Mortgage Choice, answering commonly asked financial questions and helping you build your understanding of the common financial jargon and discover more about the options available to help you take control of your financial future and build a rich life for you and your family.
Some of the topics covered include Renting vs Buying, Getting started with investing, Fixed vs Variable, What is LMI and Unlocking equity to invest. We will be realising these with our next months newsletter.
Ever wondered how a Mortgage Choice broker gets paid? Watch our first release in the Money Chat video series to find the answer, click the following link to watch,
Sponsoring Local Charities
Mortgage Choice in Robina sponsored the 1st Tee at the 2015 Condev Charity Golf Day, which was held last month. Over 280 golfers enjoyed the day with former professional rugby league footballer, Mat Rogers being the MC for the event.
The event raised over $35,000 and was in aid of charities - Starlight Childrens Foundation, AEIOU Foundation for Children with Autism, Very Special Kids, Victor Change Cardia Research Institute, Ronald McDonald House Charities, CareFlight, 4ASD Kids and Chain Reaction.
We really enjoyed contributing to the success of this event and we look forward to becoming more active in the local community.
Facebook - Like Us!
If you would like to hear from us more then once a month we would love for you to join us on our Facebook page: facebook.com/MortgageChoiceRobina
We regularly post industry, product and services updates along with anything interesting we come across regarding all things property.
Read our latest blogs:
- Negotiating to buy a property - smart strategies to give you extra bargaining power
- Expert help with your home loan, with the benefit of choice
- Supporting the Charity Golf Day
As your Gold Coast Mortgage Broker and Home Loan specialist, our office is located in Robina servicing the Robina area and other suburbs including Varsity Lakes, Burleigh Heads, Burleigh Waters, Mermaid Beach, Mermaid Waters, Miami, Nobby Beach, Bonogin, Mudgeeraba, Reedy Creek, Tallai, Worongary and surrounding areas on the Gold Coast.