at 11/251 Crawford St QUEANBEYAN, Canberra Australia
home & business loans,life insurance, income protection, Wealth creation is delivered by combining income generating and investing activities
we help you to consolidate debt, refinance your home, reduce your mortgage, review your financial situation in light of your goals, provide the loan that suits your requirements with either Offset account or business overdraft or Line of Credit for your principal place of residence or Investment Properties. We help businesses with a second mortgage or the first home owner
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Canberra has spluttered along this year and the unit market has recorded a 6% decline in the median price, according to both Domain and CoreLogic.
Rates to stay on hold, but are borrowers still losing out? As expected, the Reserve Bank of Australia (RBA) has left rates on hold for the sixth consecutive month, yet this isn’t necessarily good news for borrowers. In recent weeks, a number of banks have independently increased their interest rates for residential housing investment loans. This is based on a rise in the cost of funding, as banks adjust their rates to protect their profit margins. RBA Governor Glenn Stevens had this to say about the changing credit market: “Low interest rates are acting to support borrowing and spending. While the recent changes to some lending rates for housing will reduce this support slightly, overall conditions are still quite accommodative. Credit growth has increased a little over recent months, with growth in lending to investors in the housing market easing slightly while that for owner-occupiers appears to be picking up. Dwelling prices continue to rise in Melbourne and Sydney, though the pace of growth has moderated of late. Growth in dwelling prices has remained mostly subdued in other cities. Supervisory measures are helping to contain risks that may arise from the housing market.” So, what does all this mean for you? With the recent changes in interest rates, now is the time to consider whether your current loan is the right one for you, right now.
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Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent. The global economy is expanding at a moderate pace, with some further softening in conditions in China and east Asia of late, but stronger US growth. Key commodity prices are much lower than a year ago, in part reflecting increased supply, including from Australia. Australia's terms of trade are falling.
$A up ahead of RBA interest rate decision
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