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Spring arrives – Interest Rates on Hold

Spring renovation interest ratesAt its meeting today, the RBA decided to maintain the current policy setting. Official interest rates remain at the record low of 0.10% pa.

Spring renovation ideas

It’s spring and a good time to make some improvements at home. It is, after all, your biggest asset. Whether as small as a garden or as large as building a new room, it’s a great time to tackle projects that will add value to your home.

There are many ways to do this. Why not add one of these to your to-do list:

  • Repave your driveway. It’s a good spring project because asphalt needs the right combination of temperature and moisture to set.
  • Revamp your deck. You’ll be using it a lot over the summer.
  • Create an outdoor seating area. Great for Christmas entertaining.
  • Change your interior colour. Nothing freshens up a room like a new paint job.
  • Rework your storage. Getting rid of clutter will open up your home. Consider a new cabinet, under stairs storage or even building a storage shed.
  • Revarnish outdoor woodwork. Sand back the wood, then give it a good high-pressure wash first.

What’s your project?

When figuring out what to do next to your home, it’s always wise to consider a cost vs. the potential return. However, if it allows you to enjoy your surroundings more, it’s always a good use of your time and money, no matter what.

If you have any questions regarding your mortgage, please feel free to give us a call.

Official Interest Rates Stay on Hold

Interest Rates on Hold - Time to Review your Budget

The Reserve Bank of Australia has stated that it has no intention to raise interest rates this year, so it comes as no surprise that the official interest rate remains at a historic low of 0.10%pa. Home loan mistakes Applying for a home loan is a … [Continue reading]

Interest Rates Remain at Record Lows

At its meeting today, the Reserve Bank Board announced it was leaving the cash rate unchanged at 0.1%. While the official interest rate hasn’t changed, it’s worth keeping an eye on what rates your lender is charging independently of the RBA. No doubt like most people, you dream of being debt-free. Depending on the equity you have in your home, it may be achievable for you. Is it time for debt consolidation? Have you ever relooked at your home loan with a view to paying off all of your debts? For example, you may have a number of higher interest rate debts, such as credit cards, so consolidating your debts will allow these to being rolled into your lower home loan interest rate. It’s easy to see if it’s worth considering debt consolidation – just check what interest rate you’re paying on your credit cards. Next, compare them with your home loan interest rate. Consolidation means those debts will be transferred from the higher credit card interest rate to your lower home loan rate. You can consolidate any loans – overdrafts, personal loans etc into a single monthly payment. And because it’s spread out over a longer period of time, it’s likely the increase to your monthly mortgage payments will be minimal. Does this sound like something you’re interested in? Give us a call and we can look at your options. Your home is your biggest asset, and refinancing has many advantages. But it’s a multifaceted matter that you need to consider carefully. But do it right and you could save a lot of money.

At its meeting today, the Reserve Bank Board announced it was leaving the cash rate unchanged at 0.1%. While official interest rates haven’t changed, it’s worth keeping an eye on what rates your lender is charging independently of the RBA. No doubt … [Continue reading]

No Shift in Official Interest Rates

Low interest rates for first home buyers

As expected, the Reserve Bank of Australia has kept interest rates at a record low 0.10%. The bank has said it has no intention of raising interest rates for the foreseeable future – making it the perfect time to purchase property. Whether it’s your … [Continue reading]

No Movement in Interest Rates

On Target Interest Rates

The RBA Board has decided to keep official interest rates on hold at the record low 0.10%pa. Their decision comes as we witness the largest one-month jump in house values in 17 years and a surge in new home loans. While this indicates the Australian … [Continue reading]

New year, no changes to interest rates

RBA Interest Rates Update

This afternoon, the board of the Reserve Bank of Australia met for the first time in 2021 and rang in the new year just as it left the previous one – with no change to official interest rates. It remains at the all-time low of 0.10%pa. So, what is … [Continue reading]

No Change to Interest Rates

Low Interest Rates - Looking for a New Home

It’s been quite a year, hasn’t it? After last month’s decision to reduce interest rates, the Reserve Bank of Australia has chosen to take stock of what has been a turbulent year and has included three cuts to official interest rates, which now sits … [Continue reading]

Interest Rates Cut to Historical Low

Interest Rates Cut

The Reserve Bank of Australia has made the decision to cut the official interest rate once more – it now stands as the record low 0.10%pa. A number of economists predicted this, with the consensus being the easing of monetary policy is the result of … [Continue reading]

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