Good morning and welcome to Monday,
I trust you had a lovely weekend, I know here in Canberra it was and has been very much like Winter for a few weeks now.
The world of money in the last week has been populated by various conflicting articles around how bad the economic outlook is as well as articles stating that its not as bad as it seems…
An article I read on Phillip Lowes comments to senate last week that the economic damage hasn’t been as bad as feared. He did caution govt saying that it was too early to pull the stimulus. Suggesting that the stimulus was working as expected.
APRA chair Wayne Byres dismissed the need to cut the serviceability buffer, even though Dr Lowe cant see the cash rate changing for the foreseeable future.
A frightening article I read over the weekend was around the early super release scheme and how APRA had been given only 24 hours to offer advice. I know that in these tumultuous times that we need to think on our feet more and more. However and I am sure my financial planning colleagues will agree with me, the long term affects of this could be scary indeed. On the run policy is rarely good or effective.
With all of this in mind, and having very little movement in the banks rates over the last few weeks one could believe that we are at the bottom of the cycle. So if you haven’t given your loans a health check recently then it is certainly time. Its all about keeping money in your pockets rather than in the banks, any way I can help do that I will. Whether its advice, getting your current lender to sharpen their pencil or picking up the loan and taking it to someone who is prepared to be sharper.
Have a great week, I am always here to help.
JC
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