Welcome to the September monthly update. A quick snapshot of what's been happening in the finance and mortgage worlds.
Interest Rate Update
Here are some of the market leading Interest Rates as of 3rd September 2020
To find out if you qualify for any of the above rates contact us today.
RBA cash rate
The RBA cash rate has remained at 0.25% - Read the full September Monetary Policy Decision HERE
Key take away: "The Board’s actions, including today's extension of the Term Funding Facility, are keeping funding costs low and assisting with the supply of credit to households and businesses. The Board will maintain highly accommodative settings as long as is required and continues to consider how further monetary measures could support the recovery. It will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2–3% target band.
Are house prices going up or down?
This has been a hot topic this month with some reports claiming we will see a huge drop in house prices while others are claiming we will see a huge price increase......confused?
The one thing they both have in common though is..... they don't have a crystal ball and it's all speculation designed to get you reading their stories.
What do we think?
As the magic crystal ball doesn't work for us either we try not to pay too much attention to it. If you are in a position to do something then now is as good as ever. All markets have cycles and prices go up and down. We can only control what is going to happen today and if you are investing or buying a property with your fingers crossed then you are simply gambling.
There are some brilliant Buyers Agents around who specialise in different segments of the market, so if you really want to minimise your risk and make use of a professional knowledge who works in the market day in day out then these are the best people to engage.
As with anything in life you should always be starting with the end/exit plan first. If you don't know what you are trying to achieve then chances are it's going to cost you a lot of money if you're dealing with Real Estate.
9News article: Prices going UP 15% - Read HERE
news.com.au article: Prices going DOWN 40% - Read HERE
Top 5 Energy Saving Gadgets
This month at the HQ we've been focusing on ways we can reduce our electricity consumption and be more sustainable by simply using some smart retrofit items that don't need an electrician to install. We will also be looking into some more high tech items that can help you make a big impact and as an added bonus save some money off our utility bills.
1. Smart Plugs
2. Smart Lights
3. Energy Monitors
4. Solar Panels
5. Solar Hot Water
6. Bonus Gadget
Read the full article for more information on how to achieve each point HERE
R U OK?
This month we have seen the national R U OK? day. With everything going on in the world right now mental health has never been more important to talk about and raise awareness.
We have seen more people commit suicide in Australia than die from Covid in the same period!
It doesn’t matter who you are if you need to talk we or someone close is here to listen.
Today is a great day to stop and reflect on how your feeling and reach out to someone.
R U OK?
Find out more today and always remember you are not alone - www.ruok.org.au/how-to-ask
Covid-19
Unfortunately, the threat of Covid is still around and as we start to get used to the rules of getting out and about, signing in to our local shops and restaurants, job losses and unemployment are still a big reality. If you've been affected and are struggling with your finances there is help available and we advise you to seek guidance from your bank and/or credit provider as soon as possible for guidance. Contact details for most lenders can be found HERE
If you would like to find out more information on any of the above topics or would like to see how we can help you with your mortgage Contact us.
WARNING: The contents of this communication are not designed to replace credit advice. We have not taken into account your needs, objectives or financial situation. The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate. The comparison rate is calculated on a $750,000 secured loan over a 25 year term at 60% LVR.
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