All Topics / Finance / Lodoc Rates Falling

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  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi All

    Might be interested to know that Pioneer have just announced a reduction in their 95% lodoc interest rate to 8.59% variable.

    No other changes regarding the product at this stage.

    Richard Taylor
    Residential & Commercial Finance Broker
    **Lodoc Commercial loans from 7.19%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
    [email protected]
    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

    Profile photo of MortgagemanMortgageman
    Participant
    @mortgageman
    Join Date: 2004
    Post Count: 164

    Thanks Richard,

    That is interesting. It is also interesting to note that fixed rates are going up with the majors at the moment.

    Regards,

    Cameron Perry
    Director
    Perry Financial Strategies
    Level 13, 30 Collins St
    Melbourne VIC 3000
    Ph (03) 9662 1999
    Fax (03) 9662 2044

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Cameron

    Indeed it is interesting to see that.
    Wonder if we have a 25 basis point increase in store next Wednesday?

    Richard Taylor
    Residential & Commercial Finance Broker
    **Lodoc Commercial loans from 7.19%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
    [email protected]
    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

    Profile photo of Stuart MilneStuart Milne
    Member
    @stuart-milne
    Join Date: 2006
    Post Count: 196

    I remember last time the short – medium term fixed rates went up and everyone paicked and fixed.

    they (The RBA) then dropped the guts out of them and let it fall to about 4% mind you I’m talking about a few years ago…

    Stuart Milne
    Non-Conforming Specialist
    READY Mortgages
    http://www.readymortgages.com.au
    [email protected]
    Mob: 0404 056 055

    Profile photo of asdfasdf
    Participant
    @asdf
    Join Date: 2005
    Post Count: 139

    Sept Futures were implying a yield of 6% this morning. Clearly thats been over sold. The banks could only hold the low rates for so long seeing how the curve has steepened significantly in the last month. Hence Hompath’s 6.39% “special” for the 2 – 5 year rates have now increased 20bps. Most Economists still think we’re not going to see a rate hike next month until further data in the coming months confirm a rate hike is warranted. Either way, this tightening cycle (if at all) is not going to be more than 50bps. Stay variable folks.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    asdf

    I agree with you Sept future provide a adequate indicate of future rate moves. As an ex Bond broker I now that the Banks play these little games and capitalise on unsuspecting members of the borrowing public in times like this.

    Whilst Bernanke has warned about concerns over the size of the
    deficit and the continuing high petrol prices these in turn will act as a dampner for consumer spending and hopefully will keep inflation and additional rate increases in check for the time being.

    Unless you are riddled with debt or concerned stay variable folks.

    Richard Taylor
    Residential & Commercial Finance Broker
    **NODOC loans from 6.89%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
    [email protected]
    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

Viewing 6 posts - 1 through 6 (of 6 total)

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