Whilst the Reserve Bank Board voted for the Official Cash Rate to remain at the current level (1.50%) this month, please ensure you take a minute to check the current interest rate you are being charged for your Home Loan / Investment Property Loan.
Many banks have increased the interest rates on the Home Loans & Investment Property Loans of their existing “loyal” clients and in many cases these interest rates are significantly higher than the rates currently being offered to attract new customers to the bank.
If you believe you are one of the many “loyal customers” being charged more than you should be please call or email as we have a great strike rate of successfully negotiating with the banks on behalf of our clients to achieve lower interest rates … & in the vast majority of occasions we have achieves significant for our clients without the need to refinance their Home Loan / Investment Property Loan to another bank.
Ahhhhhhh … the benefits of having your very own Personal Mortgage Specialist.
Senior Economists from Commsec (Commonwealth Bank Securities) are predicting that the Reserve Bank may retain the Official Cash Rate at the current record low level (1.50%) for up to 1 year as the Australian Economy is continuing to perform at levels that may not require any additional stimulus from the RBA.
This is great news for Home Owners & Buyers who can sleep easy without the fear of imminent rate rises.
The Reserve Bank Board voted this afternoon to retain the Official Cash Rate on hold for the 12th consecutive month with some Senior Economist predicting another 12 months before the RBA will raise rates.
Understandable many investors are scratching their heads asking why their interest rates have risen over the last few months … The answer is due the new capital requirements & policy restrictions which have been imposed by ASIC & APRA resulting in a higher “Cost of Funds” for investment loans & interest only loans.
The “Good News” for home owners / buyers is many banks have recently reduced their interest rates on “Owner Occupied” Home Loans to rates under 3.99% p.a.
Some banks have also been a tad sneaky by advertising low rates for new customers but not passing on the lower rates to existing clients unless they demand a better deal.
If your bank is charging you higher interest rates please call DPF Mortgage Specialists (07 5527 4744) ASAP or “CONTACT US” to find out how you can stop paying more than you should be.
July 4, 2017 in Rate Rises
The RBA Board has elected to retain the Official Cash rate at the record low 1.50% for yet another month.
Please keep an eye on your Home Loan interest rate as several Banks have recently reduced their Owner Occupied Home Loan interest rates whilst other Banks have taken the opportunity to increase their interest rates (& profit margin).
Interest Rates on Investment Property Loan have increased across the board following recent changes in requirements by ASIC, although once again some Banks have passed on the minimum increase whilst other Banks appear to be taking the opportunity to increase their revenue.
Please feel free to contact me if you wish to discuss how your Home Loan or Investment Property Loan is performing & to learn how you can achieve a lower interest rate.
The DPF Team are so very grateful for the generous support we receive from so many of our clients who regularly recommend our services to their family, friends & work colleagues.
As a means of thanking & acknowledging our wonderful clients for their efforts DPF Mortgage Specialists will be gifting a new Nespresso Coffee Machine to every client who recommends a family member, friend or work colleague who takes out a new Home Loan with DPF Mortgage Specialists (minimum new loan amount $150K).
Our clients are welcome to recommend as many family & friends as they wish as there are no restrictions as to how many coffee machine they can receive. You can have a coffee machine at home, at work, in the caravan or if you don’t like coffee we are sure your friends would love to receive a Nespresso Coffee Machine as a house warming gift.
This offer commences on 1st June 2017 & will expire on 30th September 2017.
New Home Loan amount required to be a minimum of $150,000.00.
New Home Loans to be unconditionally approved by the Bank / Lender on or before 30th October 2017 & settled in full on or before 30th November 2017.
All eligible Home Loan Applications are required to be received by 5pm (EST) 30th September 2017 & lodged with the Bank / Lender no later than 5pm (EST) on 6th October 2017.
Clients can select from either the Nespresso Breville Inissia Capsule Machine (BEC200XR) or Nespresso Delonghi Inissia Capsule Machine (EN80BAE) – Subject to availability.
This offer is restricted to clients of DPF Mortgage Specialists only.
Good News for Australian Families …
The RBA Board has voted to retain the Official Cash Rate at the current record low 1.50% p.a. for at least the next month.
The days of locking in a record low interest rate on your Home Loan may be behind us with several banks (including Westpac) confirming they will be increasing their Fixed Interest Rates by up to 0.50% p.a.
DPF Mortgage Specialists have confirmed that Westpac will be increasing their 2, 3 + 5 Year Fixed Interest Rates as at midnight this Sunday.
The biggest increase for Westpac will relate to the 5 Year Fixed Interest Rate which will rise from 3.89% p.a. to 4.39% p.a. (Premier Advantage Package Home Loan).
Based on a $400,000.00 loan you could save up to $10,000.00 over the 5 Year Fixed Rate term by contacting Westpac today (ph: 132558) rather than waiting until Monday.
If you are not with Westpac & are considering locking in your interest rate, you may need to act fast as “Other Banks” are likely to consider following the lead of Westpac, ING, Bank of Qld, Rams & ME Bank, who have already jumped to increase their fixed interest rates.
Please note that no changes have been announced at this time relating to Variable Interest Rates.
I hope this early “Heads Up” will help you to save your $$$$
September 26, 2016 in Rate Rises
Who are you supporting to win the 2016 Premiership Trophies this weekend ?
Sydney Swans vs. Western Bulldogs
Cronulla Sharks vs. Melbourne Storm
The Board of the Reserve Bank has voted to retain the Official Cash Rate at the record low 1.75% and will continue to monitor the impact on the Australian economy as it reacts to uncertainty following the federal election.
The only good news for borrowers is that hopefully the seemingly never ending election coverage will be over shortly.
Actions by APRA in the later part of 2015 have resulted in many banks increasing interest rates on Home Loans & Investment Property Loans whilst other Banks are continuing to offer interest rates up to 1.00% p.a. lower.
For a loan amount of $400,000.00 this equates to borrowers being forced to pay an extra $4,000.00 each year.
With Variable Interest Rates as low as 3.98% p.a. (CR 4.03%) now might be a great time to make a make a fresh start, save heaps and pay off your Home Loan much sooner.
Please feel free to click on CONTACT US or call 07 5527 4744 to discuss your options.
To calculate how much of a difference a lower interest rate could make to your Monthly / Weekly loan repayment click onto our Home Loan Repayment Calculator.