HOME LOAN MARKET UPDATE | OCTOBER 2019

by wellmanfinance | Oct 7, 2019 | Market Updates

HOME LOAN MARKET UPDATE | OCTOBER 2019

In October’s market update we discuss The Reserve Bank of Australia (RBA) decision to lower the cash rate for the third time in five months from 1.0% to 0.75% and how each lender has responded. If any of your home and/or investment loans do not begin with a 3, it is a very good time to have these loans reviewed to see how much money you can save.

Unfortunately most banks/lenders failed to pass the full rate cut on. Below is an update on the amount of rate cut that banks/lenders have passed on to customers:

LENDER
Advantedge/myloan
ANZ
Auswide
Bank Of Melbourne
Bankwest
CBA
ING
Macquarie Bank
ME bank
NAB
Westpac
All Other lenders

HOME LOAN / INVESTMENT LOAN
0.15% / 0.15%
0.14% / 0.25%
0.25% / 0.25%
0.15% / 0.15%
0.13% / 0.25%
0.13% / 0.25%
0.15% / 0.15%
0.15% / 0.15%
0.15% / 0.15%
0.15% / 0.30%
0.15% / 0.15%
TBA

In positive news for local home owners, the median house price increased over the last quarter in the Greater Melbourne area. This is the first sign of positive growth in over two years. If this growth continues their will be greater opportunities for property owners to access equity with these improved valuations. This combined with banks/lenders increased serviceability will create good opportunities for property investors.

As always if you would like to discuss your situation, please give me a call or send me an email.

Sean

Call: 0400 669 950

sean@wellmanfinance.com.au

HOME LOAN MARKET UPDATE | JUNE 2020

HOME LOAN MARKET UPDATE | JUNE 2020 In this month’s update we discuss the interest rate market and the likelihood of further rate reductions. Some lenders despite the RBA putting the cash rate on hold lowered their variable rate home and investment loans this month....

HOME LOAN MARKET UPDATE | APRIL 2020

HOME LOAN MARKET UPDATE | APRIL 2020 In this month’s monthly market update we discuss COVID-19 and the impacts that may be relevant to your own personal situation , particularly if your employment has been affected over the last few months. If you have an existing...

HOME LOAN MARKET UPDATE | MARCH 2020

HOME LOAN MARKET UPDATE | MARCH 2020 We predicted last month that the Reserve Bank of Australia (RBA) was likely to lower the cash rate at some stage this year but were surprised they did so this month. This takes the current cash rate to an unprecedented 0.50% and...

HOME LOAN MARKET UPDATE | OCTOBER 2019