General News

Do you know what the interest rate is on your home loan? How does it compare with what the big banks are offering? If you can’t answer either of these questions then you’re guilty of one of the biggest money mistakes – not looking around for the best deal.

It’s now easier than ever to change home loans and even your regular banking accounts. So shop around for the best interest rate and refinance if necessary.

One of the best

Sometimes it is good to take some time out from our busy lives to enjoy some light humour.

Here’s a funny scenario we thought you would enjoy.

It all began with an iPhone .. my son was celebrating his 16th birthday, so I got him an iPhone. He just loved it. Who wouldn’t?

The RBA board have decided to hold the cash rate for another month.

Despite Australia’s low inflation rate the RBA is clearly concerned that Australia’s forecast economic growth will push inflation higher.

Whilst unemployment and inflation remain low, it is unlikely that we will be seeing a rate cut in the near future.

We will now sit and wait to see what our home loan lenders do with their interest rates. Within the mortgage industry we are hearing every lender complain about the same problem………. the rising cost of funds.

The RBA has decided to leave the cash rate at its current levels. This may leave our home loan lenders in a bit of a quandary. All four majors have recently commented that they need to gain some profit margin due to their rising cost of funds. This move by the RBA may force the banks to increase our current rates despite the RBA’s decision to hold. We will wait and see.

Interestingly, ANZ in an attempt to break away from the media’s expectation that they “always match the RBA decision” have decided to review their rates

International rating agency, Moody’s, have reaffirmed Australia’s top level AAA credit rating.

Treasurer and acting Prime Minister Wayne Swan said this was yet another resounding endorsement of Australia’s sturdy public finances and strong economic fundamentals.

“At a time when other developed economies have had their ratings cut, or put on review for potential downgrade, Australia stands tall in the world with its gold-plated AAA status safe and secure,” he said in a statement.

The US Federal Reserve said consumer spending rose slightly last month and the economy maintained its expansion, even as companies reported more doubt about the strength of the recovery.

“Overall economic activity continued to expand in September, although many districts described the pace of growth as ‘modest’ or ‘slight,’” the Fed said in its Beige Book survey released today in Washington. “Contacts generally noted weaker or less certain outlooks for business conditions.”

The Financial Planning Association of Australia (FPA) are embarking on a campaign to increase consumer awareness of the importance of seeking the right financial advice.

You will soon see the TV advertising campaign on local TV stations aimed at raising the standing of the Financial Planning profession.

In these interesting times of volatile investment markets it is becoming more and more important to get the right financial advice from a trusted professional. The FPA campaign aims to encourage consumers to be mindful of a financial planners qualifications (or lack of) when seeking advice.

The Victorian State Budget 2011-12 implements several initiatives to support first home buyers, pensioners and concession cardholders.

What does this mean for you as a first home buyer?

1. Land transfer (stamp duty) cuts for first home buyers from 1 July 2011. This provides a 20% reduction to the applicable stamp duty for first home buyers.

2. Extending the First Home Bonus for newly constructed homes until 30 June 2012.

3. Broadening the pensioner and concession cardholder land transfer duty concession.

hings change and keep changing – in finance as well as in life.

In the last few years Australia has done very well to steer a steady path through the financial issues rocking the economies of most of the rest of the developed world, and that world itself is changing.

Take a look at the graphs below which compare the composition of world stock markets in 1999 and 2009, showing the growing importance of Asia (ex-Japan) over this period.

The middle class of Asia is emerging and at full strength will be almost half the world’s population. An opportunity on our doorstep!

The topic is hard to avoid.

If you have been reading the newspapers, watching tv or listening to the radio lately you would notice that the biggest topic of conversation seems to be centered around the debate over the carbon tax. But what exactly is it proposing?

For those of you that are still unsure what the tax is, we found that this short video below (whilst only a broad overview) provides some insight into the proposed carbon tax.

We do not provide this video to represent any particular view on the carbon tax, nor do we express our opinions over its validity or present any political views. There continues to be some debate over this topic and we simply feel that this short video provides a succinct overview of the proposed carbon tax in under 2 minutes.