Good News, Bad News & Just News
by Marshall Cobb - Principal
Every week brings good news, bad news and just news, and this week is no different...
- Good News: The Australian economy added 62,000 extra full time jobs in June, which is a great indicator of the solid health of our economy.
- Bad News: Mortgage rates face upward pressure after APRA this week told banks to hold more capital. This is bad news if you're in debt, but great news if you have money in the bank.
- Just News: The PM reminded us not to assume that house prices will only go up. “Clearly you need to remember that asset price movements go in two directions,” he said at a speech to an economics conference this week.
So we have job growth, slowly rising interest rates and a gradually slowing property market. No surprises there, but it does highlight the need for quality property, quality finance and quality advice to minimise any potential issues with your portfolio.
Our number one piece of advice for the week - if you are not looking at fixed interest rate options for your mortgage, then you should urgently meet with an experienced mortgage broker and review your options.