Walk The World
I caught up with Peter Marshall from Mozo as we discussed the fall out from the RBA rate rise last week, and how it is playing out for mortgage holders and savers. Are we at another inflection point?
Peter Marshall has been working in the Australian banking and finance industry for over 20 years and oversees Mozo’s extensive product database. He is regularly sought out for his expert commentary and analysis on banking and interest rates trends by print, radio and TV media.
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Caveat Emptor! Note: this is NOT financial or property advice!!
Don’t forget to hit the like button! 👍
Up with rates please 🙏🙏🙏🙏😊😀👍👍
Those US employment numbers are not what they seem, it’s people getting second (part time) jobs! 😱👍
My heart bleeds for banks NOT
Suicide to stop rate rises now.
I removed my remaining liquid assets from the Banking System months ago……only a week to week operating account in their system now
Philip Lowe has lost his ticker
People need to remember that they also have power. They have a choice of which lender they wish to handle their debt. Their is nothing to lose and plenty to gain in shopping around for the best offer. Another thing is with utilities, insurance and other cost of living expenses. I'll say with a high degree of certainty that at least one of your bills are not on the best deal. Ask yourself if you really need Telstra's coverage, if you never leave a major city you probably don't need the premium. Electricity market is definitely something to spend some effort on getting the best deal. Food costs are going up, but not everything equally. Try shopping at a local fruit and veg market, they have some amazing specials as they need to attract customers as oppose to the supermarket chains who rely on convenience. Avoid buying food from service stations, it's all overpriced garbage. Consider your local independent businesses, they really are trying to give you the best deal without relying on market power and tend to spend back into the local community. I have faith we'll get through this together and businesses that try to lay the expense on the working man can suffer for all I care.
Housing sales are coming back…FOMO is creeping back in.
waiting for the fiscal cliff to sell popcorn
Did anyone else hear that apra instructed banks to set their systems up to allow for negative rates?
Savers to be sacrificed again it seems!
Rates were taken to the floor to encourage borrowers, leaving savers with nothing.
Now inflation will be allowed to rip because borrowers might suffer if rates go too high to control price rises!
Thanks Mr. Martin…Corn,Barley, Wheat and Oil down by 30% plus…Rampant Deflation. Good for paying those Million Dollar Mortgages…right?
Can"t Blame People at all For Getting a Little Excited About What the reserve Bank Says
Sackings Should be In Order , Same With Politicans
I think the reality of the rba and the average person are light years apart…
I reckon the RBA will be looking at the CoreLogic numbers, and I would be surprised if they are brave enough for another 0.5% rise.
bu but whose taking care of the Banks ??? have a heart people ……….just joking …as in jest making fun 😁🙂
Higher rates do help people. It helps people by properly popping the debt bubble and prevents central banks to printing endless amounts of money with no real valuable physical assets to back it.
The Middle (Official Music Video)
CBA cut fixed interest rate for home loans 1.6%
As people begin to say the RBA and the Fed will not actually go through with their threats of higher rates. I begin to think they will actually go through with their threats of higher rates.
Hmm.. 5:50 Yes, it interesting how some opinions are changing. It tells you that those opinions were never too robust in the first place.
Just watched a Jim Rickards video. He's seems to think the Fed will rise into January 2023 then pull back because the US will be in a deep recession. I'd expect the RBA to roughly follow the Fed.
Rates are not at a cross roads.
The banks just had a weird flex today by reducing their fixed term rates…
Its saying to albo, "dont do it man, dont do it"
"we are on such a good wicket with these bubble prices lets keep it going"
This Peter Marshall has a lovely, calm, 'giftshop' voice…he must be in 'sales'. Smiling assassin.
I don't understand how it is possible to talk about mortgage rates in isolation and in such optimistic terms. No mention of inflation whatsoever, and from what I understand the increases by the RBA to date have had no effect on that.
I was feeling a bit sad lately that this inflation was only going to be really transitory. I was pleased to hear that we are still expected to have a 6.25% CPI at June 2023 and the market is pricing in a 3.5% cash rate by March 2023. Why is there outsize emphasis on the plights of mortgagors? No one gives a stuff about how us savers have been shafted over the past 5+ years, it's all about property owners and the bigger your mortgage the more that people feel sorry for you. The media loves to kiss their arses. It's well past time for the balance to be restored.
I want what he’s on
Inflation is a risk to the sovereign, not intervening to stop the housing bubble bursting is a risk to the greedy amoral banks and the people who blindly trust them.
down, down, down, down, down…
then a rapid halt and a little bounce up.
certainly sounds like the moment by moment of hanging by noose.
or is it just describing the last decade of central banker and politico-corporate rate tampering and divergence from reality..
One thing is certain. All the clownshows have the same creditbubble symptoms.