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We regularly provide updates and commentary on the finance industry in Australia. Feel free to provide your thoughts.
One of the biggest home loan mistakes you can make is to ‘set and forget’ your mortgage for 30 years. As the market shifts and your financial situation changes, there’s a good chance your mortgage may no longer be as competitive or suitable.
At PPM Finance, RateTraker is our ultimate loan monitoring tool, keeping an eye on your interest rate 24/7. If your lender isn’t offering a competitive rate, we’ll act quickly to reprice your loan or help you switch to a better deal. Think of it as your personal loan watchdog, ensuring you’re always in the best possible position! smpl.is/a19ss
With that in mind, here are five signs it might be time for you to refinance:
- It's been at least two years since you took out your loan. Credit policies, interest rates and borrower incentives have changed a lot in that time, so you might find that better loan options are now available.
- Your financial situation is now different. Just as you need new clothes when your body changes, you generally need a new loan when your personal circumstances evolve.
- Your fixed-rate period is coming to an end. Instead of reverting to your lender's standard variable rate, look around to see if better loan options are available – because the answer will probably be yes.
- You've built up equity in your property. If your equity position is stronger, you might now be able to qualify for a loan with a lower interest rate or better features.
- You want to cash out equity. If you want to buy an investment property, you might be able to cash out equity – via a refinance – and use that money to fund the deposit.
🎄 End the Year on a High Note with PPM Finance! 🎄
As we approach the holiday season, it’s the perfect time to reflect on your financial goals and prepare for what’s ahead in 2025. 💡
At PPM Finance, we’re here to help you make the most of potential interest rate changes next year. While the RBA is unlikely to cut rates until May 2025, it’s never too early to take control of your finances:
✅ Reprice Your Loan Now: Don’t wait for lenders to act—get ahead of the game with our expert support. smpl.is/9y07k
✅ Enjoy Free Rate Monitoring: Our RateTraker tool keeps you informed and ensures you’re always getting the best deal. smpl.is/9y071
✅ Refer a Friend & Save Together: Share the benefits of PPM Finance with your friends, and they’ll enjoy free rate reviews and monitoring too!
Let us help you start 2025 with confidence. Contact us today or tag someone who could use expert mortgage advice this holiday season. 🎁
📍 Visit us on Sydney Road or check out our ad in The Brunswick Voice smpl.is/9y07l
#PPMFinance #MortgageBroker #RateCuts #HolidaySavings #BrunswickVoice
🚨 Reality Check: What RBA Rate Cuts Really Mean for You 🚨
With the RBA’s December 10 decision behind us, it’s clear that they’re unlikely to cut rates until May 2025. But before you get your hopes up for rate cuts, here’s what you need to know:
💡 In past rate-cutting cycles, lenders passed on only about 60% of the RBA's rate cuts to existing customers. Some didn’t pass on anything at all!
Here’s my advice to stay ahead, no matter what the RBA decides:
1️⃣ Don’t count on a full rate cut. An RBA cut doesn’t guarantee your lender will follow suit.
2️⃣ Avoid relying on rate cuts in your budget. They’re not guaranteed. If they do happen, keep your repayments the same to build a buffer, save on interest, and reduce your loan term.
3️⃣ Take control now. Sign up for RateTraker and I’ll monitor your loan to ensure it’s repriced if the bank doesn’t pass on the full cut. smpl.is/9xxyk
📉 Check out the graph below to see how much of the last rate cut cycle wasn’t passed on by lenders. Don’t wait—sign up for RateTraker today and stay ahead of the game!
#MortgageTips #RateTraker #HomeLoan #InterestRates #RBA #Finance #StayAhead
The latest CoreLogic insights reveal that while economic indicators are improving, we're still not quite at the finish line for a rate cut. With data moving in the right direction but inflation and wages growth still holding sway, the Reserve Bank remains cautious. This is a key reminder for anyone with a mortgage to stay proactive. Keeping a close eye on rates—and ensuring you're getting the best deal—is more important than ever. Make sure you're not left behind when rates do move—Sign up to RateTraker today to stay ahead!
#propertymarket #MortgageBroker #InterestRates #FinanceUpdates #ratetraker
smpl.is
There weren’t many punters betting on a rate cut on Melbourne Cup Day, with financial markets allocating only a 5% chance the RBA would reduce the cash rate by twenty-five basis points.A big thank you to the WBP Group for consistently delivering high-quality insights into the property market. Their latest Australian Property Market Update (May 2024) offers some compelling takeaways.
One point from Melbourne’s residential market caught my attention:
After a strong start in 2024, stock levels are tapering, with investor-grade properties seeing increased supply due to higher borrowing costs and land tax, affecting investor confidence. Building approvals are also at their lowest in over a decade.
Read the full update here:
Australian Property Market - WBP Group Market Update May 2024 - WBP Group
smpl.is
The 2023 property market proved to be one of surprise, but also of challenge. With rising interest rates, inflation and increasing cost of living impacting consumer confidence, the Australian prope...