Reduce Your Rate Reduce Your Stress.

25 May, 2010
The mortgage and pay TV accounts are least likely to be paid.
One in three Australians have indicated they will pay bills late in the year ahead and one in four households has indicated they would be most likely to miss the mortgage payment if they find themselves short on cash. These findings are from the latest Consumer Payment Priorities Study, released today by credit reporting agency Dun & Bradstreet. (more…)

80,000 firms downgraded in the March quarter 2010
Business downgrades continue despite the economic recovery
Close to 80,000 Australian firms had their risk profile downgraded in the first three months of 2010 and are now more likely to experience financial distress over the coming year despite the strength of the economic recovery.
The latest risk research from Dun & Bradstreet reveals the number of firms
downgraded has risen by close to 15,000 compared to the same time last year, a
period when the local and global economy was continuing to face significant
pressures from the global credit crisis.

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18 May 2010

The decline in Housing affordability continued early in 2010 with higher house prices, increased interest rates, and the removal of the first home buyers’ boost according to the latest HIA-CBA First Home Buyer Affordability Report.
Housing affordability fell in the March 2010 quarter dropping by 4 per cent to be 28.7 per cent lower than 12 months ago. Through the quarter, affordability fell by 4.2 per cent in the capitals and 5.3 per cent in regional areas to be lower by 30.5 per cent and 24.8 per cent respectively compared to March 2009.

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On 11 May 2010, the Treasurer Mr Swan handed down the 2010-11 Federal Budget, his third Budget.

In looking to set a Budget to take the Government to the next election, a brighter economic outlook appears to have delivered the funding for a range of tax sweeteners. While still essentially a “no frills” Budget, the Government has announced a 50% tax savings discount on up to $1,000 of interest earned by individuals and a standard $500 deduction for work-related expenses.

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The latest D&B National Business Expectations Survey shows…

Outlook for the September quarter 2010

• Selling price expectations are down four points from the June quarter index of nineteen
• Employment expectations remain in positive territory at an index of eight, down a point on
  the June quarter
• Capital investment expectations are unchanged (at an index of 16) and remain at the highest level in almost seven years
• Profits expectations are also unchanged at an index of 17, the highest level in five years
• Sales expectations remain high but have fallen five points to an index of 28
• Expectations for growth in inventories are down one point but remain at the second highest level in more than five years

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12 May 2010

In a worrying sign for a sustainable housing recovery, the number of new home loans hit a 12 month low in March said the Housing Industry Association, the voice of Australia’s residential building industry.
HIA Chief Economist, Dr Harley Dale, said there is a disturbing downward trend in new home lending that does nothing to instil confidence in the prospects for a recovery in new residential construction that extends beyond this year.
“The March ABS Housing Finance result marks the fifth consecutive fall in loans for construction and the sixth consecutive decline in total lending,” said Harley Dale.
“We have a debilitating confluence of higher interest rates, tight credit availability, and obstacles related to land supply, planning, and infrastructure charges and taxation.
“These forces are standing in the way of a sustainable lift in new construction in 2011 and beyond that would allow inroads to be made into Australia’s large and growing housing shortage. (more…)

This month Your Mortgage Magazine voted us the Best non-bank variable loan.

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With the official cash rate expected to steadily increase over the coming months, more homebuyers will seek properties in affordable suburbs, according to Australian Property Monitors (APM).

According to a list compiled by APM, the nation’s most affordable suburbs are Coonamble in NSW, which has an average home value of $77,500, Coober Pedy and Fisherman Bay in South Australia, which average $81,500 and $92,000 respectively, St Arnaud, Morwell and Red Cliffs in Victoria and Hughenden in Queensland, which has an average property price of $99,000.

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