How to Sell Your Home

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BREAKING: ANZ finalises RBA divorce

ANZ today made official its break with the Reserve Bank by raising its mortgage rates.

The bank last year indicated it would no longer be bound to the official cash rate, with ANZ Australia chief Philip Chronican saying the bank would make rate announcements the second Friday of each month.

ANZ made good on the promise today by lifting its standard variable rate by 0.06% to 7.36%. But while taking with one hand, the bank gave with the other, cutting its three-year fixed rate by 15bps to 5.99%.

The announcement comes just a day after Bank of Queensland vowed it would not lift rates until at least next month. NAB has also indicated it is intent on maintaining the lowest SVR among the majors.

Story courtesy of Australian Broker News

Mortgage Interest Rates

Europe a concern, but rates don’t rate with Gen Y.

Europe has been tipped as the major factor influencing Gen Y’s financial decisions, while interest rates failed to cause concern.

A Loan Market poll has found that Gen Y are the more likely generation to cite the Eurozone situation as the factor most impacting their financial decisions over 2012. Seventy-four per cent of Gen Y respondents tipped Europe as the greatest factor impacting their confidence, compared to 61% of the total survey respondents.

read more http://www.brokernews.com.au/news/newsletter/122158/

Interest Rates

Govenor Glenn Stevens advised cash rate to remain unchanged at 4.25% http://www.rba.gov.au/

Buying a Home ???

Home buying may be showing some “tentative signs” of recovery, but an expected rise will not break the downward trend.

Westpac’s forecast ahead of official ABS housing approval numbers due this week has called for a 2% rise for December. But the bank’s chief economist, Bill Evans, does not believe this will break the downtrend seen through much of last year.

“December is still too early for an unambiguously positive response to rate cuts. Even in interest rate sensitive sectors like housing these usually take several months to impact,” he said.

Evans suggested that “patchy sentiment” and consumer wariness woulld hamper any response to the RBA rate cuts in November and December. Even a massive 8.4% upturn in approvals for November left “a firm downtrend in place” for housing, Evans said.

“Overall, we expect a 2% rise in December, another positive but only enough to lessen – not break – the downtrend,” he said.

This article is courtesy of Broker News

Property For Sale – Whats Happening

Industry Market Wrap

Consumer Price Index numbers released by the Australian Bureau of Statistics (ABS) this week showed inflation was virtually flat over the December 2011 quarter with a seasonally adjusted increase of just 0.2%. The 0.2% increase in inflation takes the headline rate of annual inflation to 3.0%, right at the top of the RBA’s target range of 2% to 3%. The RBA’s preferred measures of underlying inflation: the trimmed mean and weighted median recorded quarterly increases of 0.6% and 0.5% respectively. The annual rate of growth for the trimmed mean and weighted median were both recorded at 2.6%, right in the middle of the RBA’s target range. With an unexpectedly low inflation reading, the likelihood of the RBA now cutting official interest rates increases when the Board meets on Tuesday the 7th of February.

read more  http://pages.e.rpdata.com/industry-wrap-270112/

What is the Economic Growth Forecast?

Bill Evans bets on global stimulul for 2012

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What is the Economic Growth forecast for 2012?

Bill Evans bets on stimulus for 2012

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Good Property Expectations for 2012

Bill Evans bets on global stimulus in 2012 January 20, 2012 10:39 AM

Transcription of Finance News Network Interview with Westpac Banking Corporation (ASX:WBC) Global Head of Economics, Bill Evans.

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