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…the place where we pool our thoughts on all things wealth-related
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.75%. But will the banks pass on the interest rate cut in full to you? RBA Governor Philip Lowe said this third rate cut in five monetary policy meetings was made to support employment…
Three-in-five prospective first home buyers intend to buy soon with a smaller deposit, rather than wait until they have saved a 20% deposit. So how do they plan on doing so? It usually takes between seven to 14 years for first home buyers to save a 20% first home deposit, according to a new report…
Imagine buying your first home with only a 5% deposit and not having to pay lenders mortgage insurance (LMI). Well, that dream is one step closer to reality after the government introduced legislation to implement the First Home Loan Deposit Scheme. Currently, people with a deposit of less than 20% usually have to pay LMI.…
Lending to Aussie households spiked 3.9% in July, the strongest growth seen since October 2014, according to the Australian Bureau of Statistics (ABS). The bumper month follows a 1.9% rise in June 2019, suggesting the tide has finally started to turn in the lending market. “Whoa. Quite the surge in housing credit in July,” remarked CoreLogic’s head…
Book Your Free Phone Strategy Session https://inkwealth.com.au The lending market can be so confusing with so many different loan structures available. We want to simplify that for you and break them down into the 5 main categories of loan types 1. Standard Variable Rate (SVR) A Standard Variable loan usually fluctuates with changes in the…
Book Your Free Phone Strategy Session https://inkwealth.com.au In July 2017 the federal government introduced the First Home Super Saver Scheme. It was announced as part of the 2017-2018 budget. The scheme is designed to allow individuals to make additional contributions into their super accounts that can later be withdrawn to buy their first home. The…
Great news for home buyers – housing affordability is the best it’s been since 1999, according to new data released by the nation’s peak housing and building body. That’s right – housing affordability is comparable to the days when the Y2K bug had us fearing for our lives, Nokia Snake was the pinnacle of mobile…
Whenever the Reserve Bank of Australia (RBA) changes the official cash rate, all we hear about is how it will impact home loans. But it affects many other areas of finance and the broader economy. Here is some information on those areas for you. The RBA has cut the official cash rate to a new…
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 1%. Yep, that’s right, back-to-back rate cuts within just one month. The RBA last cut the official cash rate to the previously historic low of 1.25% on June 4, which also happened to…
Book Your Free Phone Strategy Session https://inkwealth.com.au You should recognise Interest rates for what they are, just the price point of the market. There is so much noise about interest rates because lenders know its their main driving marketing tool. Lenders use them to get you in the door – once in they then steer…
