When there is such a big gap between the cash rate and the bank rate, it gets a lot of tongues wagging. Bankers, are your ears ringing? Yes, a lot of people are talking and they are not being all that nice. When do people have great things to say about their bank? Not often, right?
Mortgage interest rates are higher, housing costs are higher, cost of living in general is higher in many cases. Companies are freezing wage increases, but yet the interest rate for your savings account is not climbing. It is not all that easy to make sound decisions in times like these.
The record-breaking gap and fear of the volatility of the market can make the idea of shopping for a mortgage or home loan really daunting. That is why it is so important to get solid advice from a skilled and knowledgeable person, such as a mortgage broker. Perth, Cockburn, Kwinana, and Rockingham residents who are interested in a mortgage or home loan can garner a lot of expertise from dealing with a mortgage broker at Smartline Mortgage Brokers Rockingham who knows a lot about mortgages and home loans.
Perth mortgage brokers who deal with numerous companies and who also deal with unique situations can help you navigate the complex world of mortgages and home loans.
- Should you look for a fixed or variable rate mortgage and what is the ideal timeframe? It is not easy to choose. You want to be able to sleep at night without worrying about volatility but you also do not want to sign too high and cost yourself thousands more than necessary.
- Should you brace yourself and hold off on moving / buying / selling?
- What can you do to look better on paper to qualify you to get the optimal interest rate?
- Is now a good or a bad time to downsize or trade-up?
- Should you sell your rental property now?
- What is the best course of action to take?
A lot of factors need to, obviously, be considered when deciding about your personal situation. Many things will come into play to determine how many options you have. Your credit is a major factor, for instance. But regardless of your situation, the right research could make a big difference to your ability to feel as good and as safe as possible about your choices. If you are interested in a mortgage or home loan for the Perth area, we would be happy to talk to you.
Regardless of interest rates, life goes on. Being knowledgeable about your mortgage and / or home loan options will help you increase the likelihood of making the right decisions about your financial future. If you need mortgage advice, our Perth and Rockingham Mortgage Brokers would be happy to help you review your options.