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Rate Rises

Interest Rates up to 1% p.a. lower . . .

February 2, 2016 in Insider Tips, Latest News, Rate Cuts, Rate Rises

Fresh-Start-New-Year-resolution-saying-2016Actions 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.

 

Westpac increases interest rates whilst other Banks reduce rates

October 14, 2015 in Insider Tips, Latest News, Rate Rises

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Westpac has announced an increase to the Variable Interest Rate for all existing and new Home Loans & Investment Property Loans.

The increase will be effective on 20th November 2015 with Westpac Variable Interest Rates rising to: 

Home Loans

5.68%p.a. (CR 5.82%) – Standard

4.98%p.a. CR 5.35%) – Premier Advantage Package discount of 0.70%

Investment Property Loans      

5.95%p.a. (CR 6.09%) – Standard

5.25%p.a. (CR 5.62%) – Premier Advantage Package Discount of 0.70%

 

These increases are the result of recent penalties being applied to Westpac by APRA, and whilst Westpac is incurring the wrath of APRA, other Banks are continuing to offer record low variable interest rates from:

Home Loans: 3.99%p.a.    (CR 4.43%)

Investment Property Loans: 4.14%p.a.    (CR 4.15%)

 

Based on these interest rates a Westpac customer with a loan amount of $400,000.00 can be paying higher interest charges of

Home Loans: $3,960.00 p.a. – $6,760.00 p.a.

Investment Property Loans: $4,440.00 p.a. – $7,240.00 p.a.

 

There are several options that may be available to Westpac customers to protect themselves from paying these higher interest rates.

Our Mortgage Specialists will personally be contacting all DPF Mortgage Specialists clients with Westpac loans over the coming days to discuss the impact of these changes and their options.

If you have any questions, or you have a friend / family member would like to discuss their options, please do not hesitate to call ph: 0755 274744 or click on ” CONTACT US “.

 

Interest Rates … Up for Investors … Down for Owner Occupiers

August 10, 2015 in Insider Tips, Latest News, Rate Cuts, Rate Rises

APRA

The Government Regulator (APRA) has thrown the cat amongst the pigeons within the Banking Industry by making major & immediate changes to the Investment Credit Policies & Lending Requirements for Banks.

 

The impact of these changes will vary significantly from Bank to Bank due to APRA introducing different rules & requirements for each Lender. The result of such variances is creating vastly different responses by each individual Bank with several being forced to increase interest rates on Investment Property Loans whilst others are having to reduce the maximum loan amounts they can lend to Investors. Other Banks are taking a different tact by seeking to encourage new Home Loans from Owner Occupiers by offering lower Interest Rates for Owner Occupier Home Loans and offering new Home Loan customers of up to “$2,000.00 Cash Back”.

 

With even more changes anticipated over the next few weeks there are plenty of reasons for Borrowers to be both concerned and excited however it is vital to KEEP AN EYE ON YOUR HOME LOAN and INVESTMENT PROPERTY LOAN as the Banks are making changes on a daily basis and whilst there will be amazing opportunities available there will also be many potential pitfalls to be wary of.

 

If you wish to discuss how you can navigate your way through all the confusion & ongoing changes please contact our experienced Mortgage Specialists.

 

Major Bank Rate Hike for Investors

July 27, 2015 in Insider Tips, Latest News, Rate Rises

CBAThe Commonwealth Bank is penalising Investors by charging higher interest rates of up to 0.40% p.a. for Investment Property Loans.

These rate increases do not apply to Owner Occupied Home Loans and has sent a clear message by the CBA to investors to “Take Your Business Elsewhere” if you wish to achieve a competitive interest rate for your Investment Property Loan.

Fortunately for Investors there are many alternative Banks & Non-Bank Lenders with low interest rates who are more than keen to welcome investors as new clients.

If you have a Commonwealth Bank Investment Loan & would like to know more click on “CONTACT US” or talk to our Mortgage Specialists on ph: 0755274744

Broker rewards clients with new Apple Watch

May 5, 2015 in Insider Tips, Latest News, Rate Rises

Apple Watch 1The team at DPF Mortgage Specialists wish to say a special “Thank You” to all our valued clients for your loyalty and support.

As a token of our appreciation DPF Mortgage Specialists is pleased to announce from the 1st of May 2015 – 31st July 2015 we will be rewarding our clients & supporters with a new Apple Watch if you:

  • Take out a new Home Loan with DPF Mortgage Specialist and recommend a new client who proceeds with a new Home Loan with DPF Mortgage Specialists.

OR

  • Recommend 2 new clients who proceed with new Home Loans with DPF Mortgage Specialists.

Over the last 17 years so many of our clients have recommended our services to their friends & family and this is our way of showing our appreciation for this wonderful & generous compliment.

Read more

RBA Announcement …

March 3, 2015 in Insider Tips, Latest News, Rate Cuts, Rate Rises

rba 1

The Reserve Bank Board has voted to retain the Official Cash Rate at the current record low 2.25% whilst they measure the impact of the previous rate cut on the Australian economy.

Economists were split with their predictions however most expect a further 0.25% rate reduction in March or April.

Banks divided over next rate decision

January 28, 2015 in Insider Tips, Latest News, Rate Cuts, Rate Rises

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The Senior Economists of Australia’s major banks appear to be divided in their predictions relating to whether the Reserve Bank will reduce interest rates when the RBA Board meets on Tuesday.

The differences in predictions relate to the latest report from the Australian Bureau of Statistics confirming significant falls in the price of fuel have reduced the quarterly CPI growth to only 0.2% resulting in a lower than expected Inflation Rate of 1.7% for the year.

As a result of the low inflation figures several of the Banks are predicting the Official Cash Rate will remain at the current level of 2.5% until late 2015 whilst their competitors are anticipating the RBA will reduce rates by 0.25% p.a. in February followed up by a 2nd rate drop in March.

The great news for borrowers is that no-one is predicting any rises in the near future to the record low interest rates we are enjoying today.

Just say “NO” !!!

November 10, 2014 in Insider Tips, Latest News, Rate Cuts, Rate Rises

No 1

After 16 consecutive months of record low Interest Rates why do some Banks continue to charge their loyal customers higher Interest Rates ???

ANSWER: Because these customers didn’t say “NO” !!!

Just say “NO” and save your hard earned dollars.

If your Bank doesn’t listen … Contact DPF Mortgage Specialists

RBA plans to keep Rates at 2.50%

August 21, 2014 in Insider Tips, Latest News, Rate Cuts, Rate Rises

RBA Govenor

Reserve Bank … We’re not changing rates anytime soon

Great News for Borrowers

The RBA Governor (Glenn Stevens) reported to the House Economics Committee in Brisbane yesterday (20/8/2014) that the RBA “hadn’t thought about raising rates recently”

Mr Stevens also stated that “The board has been mindful of allowing time for measures already taken to have their effects, and of the very considerable limitations for monetary policy in fine-tuning economic outcomes over short periods. It has also seen some value, in the present circumstances, in maintaining a sense of steadiness and stability”.

Happy New Financial Year

July 1, 2014 in Insider Tips, Latest News, Rate Cuts, Rate Rises

New Year 2

The Reserve Bank has delighted borrowers by announcing that the record low interest rates will remain for the time being with the Official Cash Rate to remain at 2.50% in July 2014.

Senior Economists are not surprised by the RBA announcement as the majority continue to predict that interest rates are unlikely to change until late 2014 or early 2015.