RBA's February Rate Cut
- Thread starter Rixter
- Start date
Awesome!
Effective next Monday:
http://www.news.com.au/business/story/0,27753,25002584-31037,00.html
Takes my variable rate to 5.11%. Unbelievable...
Cheers,
Michael
mum thinks im nuts, seeing how excited i am right now haha
Half our portfolio is fixed still below Westpac's new variable rate. The other half is variable so its happy savings time here too
Ummm... you do realise that the majority of people dont give two hoots about the "financial" side of it.... its all "emotion, emotion, emotion" when 95% consider buying their own home. Financial figures mean almost nothing, except for how much they can borrow (which is now much more than a few months ago).
Yep I knew there still had to be one in there somewhere!
How about people who have never owned their own home before - do you still think they are better off renting than owning their own place?
Of course, renting is better than buying and renting is still affordable.
After a total of about 4% IR drops in mortgage loans and further rental increases, the 2007-08 4-5% breakeven for IP to make sense is now likely to be less than 2%.
Hehehe, I got in with my very first property in late 2003, and I've definitely been a winner.
had a Thought on this sort of thing the other day?
as my outllaws , glote the property market did fall craig and you said it would not!
Adding the financial savings v's say the yeilds the yeilds have gone up so much,due to the falling interest rates , then a 3% fall in a home is not relivent unless one sells at this lower value, although the yeilds ratio has as most of us know increased very much, SO had the value of a home realy fallen ??? i begb to differ.
Nice. I'm now on 5.01% variable rate and my IPs are positively geared.
So much extra disposable income now. Will have to buy again soon - I don't like giving so much money to the ATO! Need to find something to buy with a dreadful yield!
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C'mon CBA!!! I need 1% cut!!
We will be very keen to see how low they go.
This so called "Debt Slavery" is looking great so far.
Todays cuts make our places so CF+ that we could go cruising for good right now (if the boat was ready
) and Diesel is far cheaper now as well AARRGGHhhThis might be just the incentive I need for the final push.
Dave
http://www.news.com.au/business/story/0,27753,25002584-31037,00.html
Also dropping the creditcard rate
"The bank says it will also reduce its 55-day credit card rate by 100 basis points."
Cheers
Also dropping the creditcard rate
"The bank says it will also reduce its 55-day credit card rate by 100 basis points."
Cheers
What is an MCP?
uh-hu, just give it a bit of time and it will appreciate.
Yeah, maybe in Sydney but not for much longer. If you cashed out anywhere else you'd be kicking yourself in the balls every time you walked past a RE office and glanced in the window at the house prices.
If you bought a $200k house in Perth during the 2003 boom the current repayments would be about $250/week or you could rent the same place for $400+/week
How about something less valuable like flats and early 2000... you could have bought a $45K 1br flat and have current repayments of $55/week or pay the rent which is well over $200/week.
How would that make you a winner ?
I'm now on 5.01% variable rate and my IPs are positively geared.
Why are you celebrating ? You should be upset over the loss of NG and your investment becoming tax inefficient.
