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Category: Finance Related

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What does record low interest rates mean for property prices?

House prices are rising in Melbourne and Sydney – one of the desired effects of the RBA’s historically-low rates. But do low rates always lead to higher prices? Just weeks out from last Christmas, the RBA decision to keep rates steady in December at 0.75% didn’t come as a surprise. In fact, it suggests we’re…
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Lender contact numbers if you’re experiencing financial hardship

As the impact of COVID-19 continues to penetrate through our economics and unemployment continues to rise overnight, Australians who have got mortgages are now being placed in difficult financial situation as their income sources getting cut off. But extreme times comes with extreme measures! Thankfully under the direction of government, banks are providing repayment relief…
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With record low interest rate, is now the time to refinance?

Australia’s cash rate is at its lowest level in history. Does that mean the time is right to make the most of the low cash rate environment and refinance your mortgage? When discussing the Reserve Bank of Australia’s February decision to hold rates, Governor Philip Lowe was unambiguous in his take. If you took your…
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Does an “unstable” income make it harder to get a mortgage?

For lenders, the ideal customer has a steady income, ongoing employment and the ‘right’ paperwork.  Here’s what you can do to get a loan even with an “unstable” income. From launching a start-up, to contracting in the ‘expert economy’ or just renting out the spare room as an Airbnb, more and more Australians have sources…
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Should you INVEST or SAVE? Growing your money in the low-rate environment

Low rates mean those with mortgages may be breathing a sigh of relief, but low interest on savings accounts make it much harder to save and grow your money. Have you checked the amount of interest you’re getting your savings accounts recently? Chances are it’s sitting around 1%. The RBA’s record-low interest rate is designed…
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Are there anyone to blame for millennials’ struggle to buy a first home?

The story says young Australians struggle to buy their first home, while their parents negatively gear investment properties. Are boomers to blame? Or do millennials’ habits keep them from owning property? Baby boomers have a 95% rate of homeownership, whereas, at the bottom of the ladder, millennials are doing it tough. Increasingly they’re relying on…
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What drives RBA’s decision on rates?

The RBA’s decision to hold on interest rates gives us time to take a deeper look at what is going on. After all, there could be further cuts. What drives the decision making? What could send rates lower? To cut or not On the first Tuesday of each month, except January, the RBA board meets…
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Want to pay off your mortgage sooner? Here’s how

It’s a simple equation. Paying down your mortgage sooner can save you thousands of dollars in interest in the long run. Here are some ways to make the most of every dollar while paying off your loan quicker. 1. Increase your repayments… Let’s take a look at repaying a $500,000 home loan, using the mortgage…
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What should you be asking the Agent during open inspections?

If you are buying a new home or investment, chances are you will be attending a lot of open houses and meeting a lot of real estate agents. Asking them the right questions not only shows you are an intelligent & serious buyer but also allows you to obtain the information you need in order…
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The 4 Interest Rate Quadrants

Are you someone who is always chasing for the “lowest possible rate”? Are you someone who is upset because you’re not getting the sharpest rate ever on market? Well, there are various reasons on why you may not be eligible for that “sharpest rate”. That’s why today I want to share my thoughts on why…
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