Mark Lewis's Blog

News, Views & Opinions In The World Of Finance

December 14, 2010 • 1:14 pm 0

Dwelling commitments fall 13.2% in September

The number of dwelling commitments made during the September quarter fell by a seasonally adjusted 13.2% to 39,399, according to the latest figures from the Australian Bureau of Statistics, but increased by 12.4% on an annual basis.

Commitments for private sector houses fell by 4.3% to 25,761 during the quarter, but were up by 2.7% over the year, while commitments for other residential building fell by 13.5% during the quarter, but rose by 39.3% over the year.

 

Filed under: Australian Economy, Home Loans & Mortgages, , , ,

December 7, 2010 • 11:28 pm 0

RBA Leaves Rates On Hold For December

The RBA decided to leave interest rates alone this month.   The cash rate remains at 4.75% and since the RBA does not meet in January it means home owners will have a reprieve from any further rate increases until at least February.

The RBA Governor, Glenn Stevens released the following statement today after the RBA Board Meeting: Read the rest of this entry »

Filed under: Australian Economy, Home Loans & Mortgages, The Economy, , , ,

December 7, 2010 • 11:24 pm 0

Rising Interest Rates Can Be An Opportunity

On 2nd November to RBA decided to raise the cash rate by 0.25% to 4.75%.   This is the seventh rate increase since October 2009, when the cash rate was at 30 year lows and continues the RBA’s perception that there remains inflationary pressures in the Australian economy.

Without doubt, it caught almost everyone by surprise as data released in the days prior led most economists to predict that rates would remain on hold.   Adding further negative sentiment to the rate increase was the CBA’s decision to increase rates by an additional 0.20% with the other major banks certain to add an additional premium to their own increases.

For the average Australian mortgage holder Read the rest of this entry »

Filed under: Australian Economy, Budgeting, Finance Tips, Home Loans & Mortgages, Property Investment, The Economy, , , , , , ,

July 7, 2010 • 1:50 am 1

RBA Leaves Interest Rates Unchanged

At its meeting today, the Board decided to leave the cash rate unchanged at 4.5 per cent.

The global economy has continued to expand over recent months, consistent with a trend pace of growth. The expansion remains uneven, with the major advanced countries recording only modest growth overall, but growth in Asia and Latin America, to date, very strong. There are indications that growth in China is now starting to moderate to a more sustainable rate. Read the rest of this entry »

Filed under: Australian Economy, Home Loans & Mortgages, , , ,

June 21, 2010 • 5:05 pm 0

Warning On Home Loans

Prominent Adelaide mortgage broker and Executive Chairman of Bernie Lewis Group, Mark Lewis has warned home buyers and existing mortgage holders to search extensively for the right home loan for their circumstances. Read the rest of this entry »

Filed under: Finance Tips, Home Loans & Mortgages, , , , , , ,

June 18, 2010 • 1:32 pm 0

Where Can The Average Home Buyer Afford To Purchase?

Housing affordability remains an issue however, there are still options for the price sensitive purchaser… they just need to target areas further away from the CBD. Read the rest of this entry »

Filed under: General Stuff, Home Loans & Mortgages, , , ,

June 9, 2010 • 11:01 pm 0

Refinance With Caution

With the recent rises in interest rates as well as general cost of living increases, many households are finding it difficult to balance the family budget.   This makes it very tempting to refinance the home loan and possibly consolidate other, usually unsecured, debt into one loan with one monthly payment.   For some, this can be a good strategy but there are some very important things to consider before launching into it. Read the rest of this entry »

Filed under: Budgeting, Finance Tips, Home Loans & Mortgages, , , , ,

June 7, 2010 • 11:59 pm 1

Property Investment Rules

In Australia, well located properties, ie capital cities and major regional centres, tend to have good prospects for capital growth but poor cashflow.   For example, the rental return on investment properties in capital cities tends to be around 4%, although this is improving as the rental vacancy rate hovers at all time lows causing a steady increase in rental returns.   Conversely, properties offering good cashflow tend to have poor prospects for capital growth. Read the rest of this entry »

Filed under: Finance Tips, General Stuff, Home Loans & Mortgages, , , , ,

June 7, 2010 • 7:40 pm 0

Interest Rates Expected to Remain Stable

The RBA Governor, Glenn Stevens is expected to keep interest rates steady at 4.5% for the near term.

After six consecutive rate rises the RBA paused and took breath in June and held rates steady.

Official housing finance data for April is due to be released this week and is expected to show a 2% drop.   This follows a 3.4% drop in March.

Consumer confidence plummeted 7% in May according to recent Westpac-Melbourne Institute data and is expected to drop further in June.

Filed under: Australian Economy, Home Loans & Mortgages, , ,

June 6, 2010 • 9:00 pm 0

Invest Now to Build For The Future

Most people borrow money at least once in their life to purchase a car, house or to invest in property or shares. Borrowing money to purchase growth assets – or even better growth assets that will continue to produce an income – is considered “good debt”. Good debt, such as an investment property, has the ability to increase your wealth over time and help you create a financially secure future.   Read the rest of this entry »

Filed under: Finance Tips, Home Loans & Mortgages, , ,

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