INTERESTS RATES UP OR DOWN

The banks last meeting of the year and guess what they have tipped to leave the rates static for the 16th consecutive month - really want a medal ? 

People are tipping that the rates will remain on hold again in December - well that's not a hard one is it.

With a lot of uncertainty in the market in terms of unemployment, the Aussie dollar and house prices, there is no consensus on which direction the next move will be - hmm let me see now, oh yes leave the rate the same.

Some are saying there will be no move until the first quarter of next year at the earliest !!  If anything why dont they take them down further I say !!

While the Reserve Bank of Australia has spoken a lot about the need for certain levers to be introduced in order to cool the property market, it seems highly unlikely that the board will change the current monetary policy setting any time soon.  Property boom where in Sydney that's not here in Perth, then try putting bigger deposits on people rather than not lifting the interest rates where it hurts our first home buyers !!

Experienced borrowers are thinking small, while the big four banks hold a dominant position in the home loan market, when it comes to refinancing, smaller lenders are helping themselves to a bigger slice of the market pie.  Apparently 32.1 per cent of refinanced mortgages were through non-major lenders - now let me see caused by non competitive rates, wouldn't match others, lack of service, you are treated like a number, they have re-valued all your properties with valuers who still think the market is overheated and the prices are falling hmmmmmm just a few of the ones I have come across lately.  GO TO A BROKER.

Home owners that are looking to refinance are more willing to consider smaller lenders than first-home buyers.  Where first-home buyers likely lack confidence and prefer the perceived safety of the big four Australians refinancing have gone the mortgage process previously, are more comfortable using smaller lenders if it means they can secure a larger loan, lower rate or lower fees.  - Use a good broker in the beginning and dont go through all those headaches I say, they get paid by the bank so they will shop it around.  Once you have a broker stick to them and make them yours as it then becomes so easy.

The newspapers always sensationalise things so when you are thinking of buying just buy I am still waiting for a depression that was coming our way 4-5 years ago !!  

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!