St. Bartholomew's House

Hi Followers

I have recently joined the St Bartholomew's foundation Inc which  provides community based support, accommodation and assistance to homeless individuals, and establishes collaborative partnerships with individuals and other organisations to eliminate or reduce homelessness.

I've posted the link below so you can see what this great organisation is doing for our community.

http://stbarts.org.au/

For further information or if you are interested in getting involved please call me on 0405 570 903

DEB BRADY

0405 570 903

"NAB breaks rank in rates cut stand-off "

Hi Followers

Thought I'd share this:

NATIONAL Australia Bank (NAB) has cut its variable home loan rates by 0.32 per cent, less than the central bank's rate cut.   

NAB said it would reduce its standard variable rate on mortgages and business loans, effective from May 4.
The interest rate on NAB's online savings account iSaver will also drop by 0.5 per cent to 5.0 per cent.

NAB's consumer credit card interest rates will drop by 0.25 per cent.

The Reserve Bank of Australia (RBA) cut the cash rate by 0.5 per cent yesterday.

NAB said the cuts would save its standard variable home loan customers $80 per month in interest on the average $300,000 mortgage.

Its new standard variable mortgage rate will be 6.99 per cent, the lowest offered by the big four banks.

"We will continue to offer a fair exchange of value, balancing rising funding costs, the needs of our existing customers and our ability to continue lending to home owners and businesses," NAB group executive of personal banking Lisa Gray said in a statement.

ANZ said today it would make its decision on rates at its regular pricing meeting on the second Friday of the month.

Westpac and Commonwealth are yet to announce any rate movements.

Bank of Queensland cut its standard variable rate by 0.35 per cent yesterday.

Ratecity.com.au CEO Damian Smith says he's surprised NAB announced their rate cut before ANZ's review meeting on May 11.

"NAB has set the benchmark for the other major banks to hold onto some of the Reserve Bank's 50 basis point rate cut," he said.

"For a typical $300,000 mortgage, this will be a saving of about $65 per month."

This information was gathered from:
http://www.news.com.au/money/interest-rates/nab-cuts-rates-by-less-than-rba/story-e6frfmn0-1226344985868

DEB BRADY
0405 570 903

SOLD SOLD SOLD SOLD

Hi followers

A recent record number of sales have early left me SOLD OUT!

SOLD SOLD SOLD



I need more homes to sell!! If your thinking of making  move please call me on 0405 570 903 and let me show you how your home will be added to my list sales!

DEB BRADY

0405 570 903



"RBA slashes interest rates by 50 basis points"

Hi Followers

RATES SLASHED!!

THE Reserve Bank of Australia (RBA) has provided huge relief for struggling homeowners and retailers, slashing interest rates by 50 basis points.   

The cut is the first since December 2011 and takes the official cash rate to 3.75 per cent, from 4.25 per cent.

The rate cut, widely predicted by economists, is likely to ease financial pressure on thousands of households across Australia, with average mortgage holders likely to benefit by about $1000 annually if the banks pass it on.

However economists believe it unlikely that all lenders will pass on all the savings.
Treasurer Wayne Swan once again warned the banks to pass on the rate cut.

“Let’s be very clear, this is a cut of 50 basis points and will be a significant benefit not just to homeowners but also to small business,” he said.

“Everybody has been hanging out for this rate cut and now it is here and people want to feel it in their pocket.”

If the banks do not pass on the rate cut Mr Swan encouraged customers to walk down the road and get a better deal.

“This is a very big move from the Reserve Bank – they haven’t moved rates this far since the depths of the Global Financial Crisis," said RateCity.com.au CEO Damian Smith.

“The signals from the big four banks suggest that they will try to hold on to part of this rate cut. Of the 50 basis point cash rate reduction from the RBA since November (2011), the big four banks have only passed on around 40 basis points to variable rate home loan customers.”

RBA governor Glenn Stevens said that a lower inflation outlook provided the scope to cut the cash rate and to help stimulate the economy.

"This decision is based on information received over the past few months that suggests that economic conditions have been somewhat weaker than expected, while inflation has moderated," Mr Stevens said.

"In Australia, output growth was somewhat below trend over the past year, notwithstanding that growth in domestic demand ran at its fastest pace for four years."

Unions, business groups and retailers have been pushing for a hefty rate cut of as much as 50 basis points, saying economic conditions supported it and would help to revive the retail sector by boosting consumer spending.

Last week, speculation of a reduction in the 4.25 per cent RBA cash rate intensified after the much lower than expected consumer price index (CPI) showing inflation was under control.

The Housing Industry Association had also called on the Reserve to deliver a 50 basis point cut after a survey showed new home sales had fallen to their lowest level in more than a decade.

Most economists expect further rate cuts to follow today’s decision, with 10 out of 16 economists surveyed by AAP saying the RBA would cut again in June. Two even said the RBA would cut three times in 2012.

All eyes will now turn to the big four banks to see if they will pass on the savings.
Commonwealth Bank chief economist Michael Blythe said the 50 basis point cut would lift consumer confidence.

"I think it has provided a circuit breaker for the negative feedback loop of consumer confidence that has been coming through," he said.

He said the decision to cut by more than the standard 25 basis points would ensure lower borrowing rates for consumers, even if commercial banks didn't pass on the full rate cut.

"It looks like a little bit like they are getting it all over in one hit and guaranteeing that, whatever banks may do, you still get a net easing in conditions."

He said the RBA still had plenty of room to cut rates further in the coming months if necessary.

This information was gathered from:
http://www.news.com.au/money/interest-rates/rba-slashes-interest-rates-50-basis-points/story-e6frfmn0-1226343674156

DEB BRADY
0405 570 903