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Hello,
It has been a while since weve been able to bring you the good news story that interest rates are heading down. Read our lead article to find out why rates are predicted to be cut and what our economists predict will happen in the coming year.
We also cover another important trend - the fall in housing prices. In this increasingly strong buyers market, we look at the issues involved with both buying and selling your home.
Our article, "Steps to Home Ownership", walks you through the process of buying a home from start-to-finish for those just entering the home ownership market.
"Renovating to sell" outlines how renovation can be used as an option for increasing the value of your home and maximising its saleable potential.
Lastly we review the topic of interest-only loans and how they can be useful for a variety of applications.
Enjoy the newsletter and as always, please contact me on 9955 0090 if you have any questions or need assistance. If you have family and friends who could benefit from this newsletter, please feel free to forward it to them with our compliments.
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Level 7, 44 Miller Street
North Sydney NSW 2060| Tel: | (02) 9955 0090 | | Fax: | (02) 9955 4021 |
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Rates Heading Down
Interest rates could sink as low as 8 per cent within a year. It's the sort of news that just a few months ago would have been inconceivable, yet now economists believe rates will be cut repeatedly until they are at 2006 levels.
A Reuters survey of 20 financial institutions found virtually all expect the Reserve Bank to make between three and six rate cuts over the next year.
The U-turn on interest rates comes as the domestic economy continues to cool, bringing about a reduction in inflation over time and opening the door for interest rate cuts.
Many experts now say that a big rate cut is needed to kick-start economic activity and avoid a further slowdown.
Read More >>
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Steps To Home Ownership
As Australian house prices start to fall, more people are being encouraged into home ownership. The market conditions make the decision to buy a lot easier - now you just need the right house, at the right price with the right finance. Follow these steps and you should be able to achieve all three!
Read More >>
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Renovating To Sell
Renovating your home can put it ahead of the competition in today's buyers' market. The secret to success is to make sure your renovations are realistic, achievable and ultimately add value. Don't fall into the trap of over-capitalising and ending up with a home that costs substantially more than its market price.
Establish a budget and stick to it
Take the time upfront to work out the costs in detail and you are less likely to run out of cash mid-way through the project. Your budget should take into account labour, materials, council fees, design fees and inspection costs, plus include up to 20 per cent as a contingency fund.
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Paying Interest Only
You may have heard of an interest-only loan and wondered if it is as good as it sounds. As its name suggests, an interest-only loan is a type of loan in which you pay only the interest on the principle balance. This doesn't mean you will never pay the principle, it simply means that for a set term - usually 5, 10 or 15 years - you can make interest-only payments.
Read More >>
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Mortgage & Finance Association of Australia
We are members of the MFAA, the peak industry body. All members are bound by a strict code of ethics to ensure the highest levels of service, integrity and professionalism.
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About Us
PAX Mortgages was established in 2002 by Duncan Johnston. Duncan has spent his entire career in the banking and finance industry, having spent 12 years at the Commonwealth Bank working with all aspects of consumer and commercial lending solutions. Duncan's last role at the Commonwealth Bank was as a Senior Relationship Executive where he managed a portfolio of private clients requiring lending facilities of up to $20 million.
No two loans are the same. Duncan's experience gives him the capability to offer you the best advice and tailor a mortgage solution for your individual needs.
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Disclaimer: This newsletter is intended to provide general news and information only. Readers should rely on their own enquiries before making any decisions regarding their own interests. Please do not rely on any part of this newsletter as a substitute for specific legal or financial advice. All material is copyright 2010.
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