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Fraser Financial Services
Fraser Financial Services
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Ian's News & Views 

The hottest topic in town at the moment is Interest Rates, and how bad off we are with today’s rates. Or are we? I have been busy researching the Standard Variable Home Loan Interest Rates and here is what I have come up with: 

Starting in January 1959, the Standard Variable Home Loan Rate was 5.00%. According to the information, the Variable Rate in May 2010 was 7.16%. That’s a little over a 2% variance in nearly 50 years. Wouldn’t we would all love to be at 5%! Here’s some other facts I discovered:    
Click for rate chart :

- The peak of interest rates was between June 1989 and March 1990 when they reached 17.0%.

- Between March and April 1970 the 1st major rate hike occurred. A whopping 1.38% to take it 7.25%. The 2nd was between September and October 1973 which increased 1.38% rising from 7.00% to 8.38%.

- Twice Interest Rates have gone up 2% in one hit. The 1st between June and July 1974 (8.38% to 10.38%) and the 2nd between March and April 1986 (13.50 to 15.50%). How did our parents cope???

- The largest ever single drop in Interest Rates was 1.26% between October and November 2008, from 8.57% to 7.31%.

- Three times rates have dropped by 1%. January – February 1983, May – June 1991 and January – February 1992.

- Interest Rates have not been over 10% since May 1996. 

- A snap shot for a period in time over the last decade: May 2000 7.8%, May 2001 6.8%, May 2002 6.3%, May 2003 6.55%, May 2004 7.05%, May 2005 7.3%, May 2006 7.55%, May 2007 8.05%, May 2008 9.45% and May 2009 5.55%, May 2010 7.16%.

- In this last decade, the lowest point has been April 2009 – August 2009 at 5.55% and the highest 9.45% between April – August 2008.

- Our largest Mortgage volumes for FFS Clients was between January 2003 to September 2007 when rates moved between 6.55% and 8.3%. Meaning today’s rates are in that scale.

So what does this mean to all of us today?

Are we suffering from total scaremongering from the media who like nothing more than to paint a picture of doom and gloom? Remember, good news doesn’t sell newspapers! Are we really traveling ok with Interest Rates? The Reserve Bank Governor would like to tell us so, but there are many more things to make up the good times. Personally, I like somewhere between 6.25% and 6.75% so we all have extra money in our pocket to take our family out for dinner, have a couple of lemonades with friends and actually get a chance to have a lifestyle.

I suggest we all make up our own minds and decide what is right for you. After all, aren’t you the Captain of your Ship?

If you have any questions or would like to discuss this further, please call me on 0412 760 373 or email  ian@ffsqld.com.au.

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June 30th is fast approaching!

 

Have you spoken with your Accountant to discuss your tax planning? Are there any purchases that must fall into this financial year?

Be sure to contact Ian or Steve to arrange your car, truck or equipment finance prior to June 30th. Time is ticking.

Click here for further info :

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You've Changed!!!  

The two most changing pieces of client information  are mobile phone numbers &  email addresses.  Has yours changed recently???  Remember to keep FFS up to date so we can keep YOU up to date.

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Are you using an MFAA Approved Broker?

Here at FFS we pride oursleves on Education, Experience & Ethics. Being a Member of the MFAA states we must adhere to all three of these guidelines.  Afterall, your home is one of the biggest purchases you make, shouldn't you demand the highest level of service?  For more info on MFAA Click here.

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 SUCCESS is not forever…….. and failure is not fatal
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