Update from Gold Coast mortgage broker FinancialPlus: John Edwards,  CEO at Residex has just released the May 2010 Residex newsletter with the prediction that the next interest rate move in Australia could well be down rather than up!

Five reasons that he gives for this are:

1. Housing finance numbers indicate a slowdown;
2. Housing growth in all cities other than Melbourne is starting to show “cracks” at the margins with lower cost suburbs presenting falls in values;
3. Retail sales look to be sluggish at best and more likely slowing;
4. The problems in Europe are flowing over into stock markets and wiping billions off the value of portfolios and hence zapping confidence; and
5. The Government’s “great big new tax” on the resource sector is going to unsettle people and runs the risk of diminishing employment opportunities as the resource sector holds back on new projects until there is clarity.

Read the whole newsletter here

• ANZ Fixed Rates
• Revised Fixed Rates for Suncorp
• Homeloans Fixed Rate Increase
• More Fixed Rate Drops
• PLAN Lending Fixed Rates Reduced
• Increase the odds of getting your home loan approved
• Fixed Rate Special Deals
• Rational behind the interest rates being left on hold
• ‘Affordability crisis’ – a housing industry fiction?
• Expanded Finance Options through Gold Coast Mortgage Broker

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