Well the banks are still maintaining their interest rate discount war……… Their centre of attention at the moment are fixed rate home loans and more precisely the 3 year fixed rate. It wasn’t too long ago 3 year fixed rates were in the mid 7′s and now we are seeing them as low as 6.39% p.a. [...]
Well what an interesting period it has been since my last blog post. I have been saying for some time now that I do not expect interest rates to go up this year however recent inflation figures suggest we can expect interest rates to move up sooner than later. The Reserve Bank has left interest rates on [...]
I remember a good friend of mine coming to me back in 2006 and giving me some reading material which she had researched off the internet which predicted the biggest financial crisis ever to hit the world economy. She was very concerned and suggested I read what she had given me. She said gold was [...]
I’m a little early this week as I am in Sydney tomorrow. No wonder the Gold Coast property market is the way it is. Having to put up with all the doomsdayers out there. During the week I read an article saying interest rates will rise to 9.50% p.a. Why do economists issue this crap to [...]
Bank Credit Assessment Teams Last week I mentioned the credit assessor from India. I have to say how impressed I was with her actions. After initially declining the detail she said if I ‘provided this and that’, the deal would be reviewed. I did provide ‘this and that’ and she did provide an approval albeit $10,000 less [...]
Queensland State Budget Well I must say, I can’t believe what goes on in the minds of the powers that be to abolish the stamp duty concessions for owner occupiers in Queensland. I understand we have the lowest stamp duty rates in Australia, but to announce it at such a critical time is beyond belief. The [...]
Click on the link below to read John McGrath’s Winter 2011 Market Review market_review_Winter_2011
There has been a lot of talk recently regarding the on-line revolution in respect to home loan applications. Banks have gone down the track previously but I don’t believe it has worked. I have come across borrowers who have lodged loans on line and received conditional approvals subject to the provision of their supporting documentation [...]
Potential home loan applicants are becoming more involved in doing their own research to determine how much they can borrow, according to leading mortgage broker Loan Market. A recent examination by Loan Market of major mortgage broker web traffic had shown an overwhelming increase in the number of people seeking out home loan and mortgage [...]
Uncertainty surrounding interest rates and high property prices are making it even harder to get a foot in the property market. The key to success is discipline – having a plan and sticking to it. How much can I borrow? A good starting point speaking to an expert mortgage broker will help you determine your [...]
