Cash rate for April unchanged at 0.1%

The RBA met today and as predicted by most economic experts left the cash rate at 0.10%.

The RBA has previously stated that it does not expect rates to increase until it sees sustained wage growth and inflation returning to within its target range of 2-3%.

With growing speculation that APRA will be required to intervene to stem the country’s booming housing market, all eyes will be on the statement that follows today’s announcement for any change of tone.

Rates are at a record low and lenders continue to offer very competitive rates.

An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

RBA’s cash rate unchanged at 0.1% for March

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The RBA met today, leaving the cash rate at 0.10%, in line with their previous guidance that they expected rates to remain unchanged for some time.

The market has been speculating that rates may rise as early as late next year based on optimism around the vaccine rollout, surging iron ore prices, a strong housing market, a rebound in business investment and record government stimulus in the United States.

The Reserve Bank has previously stated that it did not expect rates to increase until 2024 and until inflation increases to within the bank’s target range of 2-3% and wages growth is materially higher.

To support lower rates and protect exporters by pushing down the rising Australian dollar, the RBA has recently stepped up its government bond buying program.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

First RBA meeting for 2021 leaves cash rate unchanged at 0.1%

Reserve bank of australia sign

Today the RBA met for the first time in 2021 and have decided to leave the cash rate unchanged at 0.10%.

Our central bank will have been encouraged by recent better than expected unemployment and CPI numbers. It will also be keeping a close eye on rising house prices, lending growth, the continued impact of COVID-19 on our major trading partners, the Australian dollar and its effect on exporters and the looming reduction to government support packages.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

Mark Hewitt recognised in Mortgage Global 100 List

AFG is proud to announce that AFG General Manager Industry & Partnership Development, Mark Hewitt, has been named in the second annual Global 100 list.

Spanning the US, Canada, Australia, New Zealand and the UK, the Global 100 recognises leaders making a difference in today’s market through the achievements of their own companies, industry associations and industry education.

Mark is a prolific contributor to the Australian Mortgage Broking industry with dual roles as AFG General Manager Industry & Partnership development and co-chair of the Combined Industry Forum.

Click here to view the full list.

The announcement that stops the nation, cash rate decreased to 0.1%

As the country tunes in for the 2020 Melbourne Cup, the cash rate decision for November has been announced and rates have been cut.

In response to the economic impact being caused by the COVID-19 crisis, the RBA reduced the cash rate by 0.15% to a new record low of 0.1%.

In making this change the RBA has confirmed the views of many analysts that further stimulus is required to aid Australia’s recovery post COVID.

It had previously stated that it sees a cash rate of 0.25% as a floor however it has softened its stance on a reduction more recently.

In the lead up to its next meeting our central bank will continue to monitor world events such as the second round of European lockdowns and the US election, while closer to home it will be hoping the easing of restrictions in Victoria and the opening of state borders will provide a lift to the economy.

As you’re probably aware, lenders review rates independently of the RBA and some may decide to pass this rate decrease on to customers at different levels over varying time frames.

An AFG broker can help review your situation to ensure you have the right loan for your circumstances, drawing on a wide panel of lenders offering loans with great features, low fees and competitive interest rates.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.

RBA’s cash rate for October unchanged at 0.25%

Reserve bank of australia sign

The Reserve Bank of Australia has today kept the cash rate at 0.25% for the 7th straight meeting in a row.

The RBA was widely predicted to reduce the rate further in October or November, although with the Federal Budget due today, the majority favoured a Melbourne Cup rate cut in November.

It has previously stated that it sees a cash rate of .25% as a floor but may need to consider the merits of a further reduction against other stimulus options, if signs of a recovery fail to emerge.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, and has a pretty good idea what lenders can do to win or keep your business.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.

RBA cash rate for September remains unchanged at 0.25%

The Reserve Bank of Australia has today kept the cash rate at 0.25% for the sixth straight meeting in a row.

The RBA will be closely monitoring the impact of the COVID-19 shutdown in Victoria and uncertainty surrounding the pace of a national recovery.

It has previously stated that it sees a cash rate of 0.25% as a floor but may need to consider the merits of a further reduction against other stimulus options, if signs of a recovery fail to emerge.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, and has a pretty good idea what lenders can do to win or keep your business.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.

RBA’s cash rate for August remains unchanged at 0.25%

Reserve bank of australia sign

As expected, the Reserve Bank of Australia kept the cash rate at 0.25% at its meeting today as the country continues to deal with the COVID-19 pandemic.

The RBA, conscious of reductions in consumer spending, further falls in house prices and the flow on economic impact of stage four restrictions in Victoria, has consistently stated that it sees a cash rate of 0.25% as the floor.

With rates at a record low and lenders continuing to offer very competitive rates, why not review your situation to ensure you have the right product for you right now?

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.

2020 MFAA Excellence Awards: National Finalists

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Congratulations, and best of luck to all our National finalists for the 2020 MFAA Excellence Awards.

To be recognised as a finalist speaks volumes of your exceptional practice and professionalism in the mortgage and finance industry.

Finalists

Nick Smith (Red10 Finance) – Commercial Finance Broker Award

Rise High Financial Solutions – Customer Service Award – Business

Rise High Financial Solutions – Finance Broker Business Award

Michelle Towner (Towner Finance) – Customer Service – Individual

Michelle Towner (Towner Finance) – Residential Finance Broker Award

Gerhard Sifkovits (Elite Finance) – Newcomer Award

Elizabeth Arche (The Practice) – Loan Administrator Award

Rebecca McIlwain (Birdie Wealth) – Loan Administrator Award

Josh Bartlett (Mortgage Advice Bureau) – Residential Finance Broker Award

Foti Apostolidis (AFG) – Business Development Manager Award – Aggregator

AFG – Aggregator Award