Mortgage broking articles & tips

6 Essential Lessons Everyone Should Know Before Their Fixed Loan Expires 

At Empower Wealth we are passionate about providing practical education that helps our community at every step of their financial journey. We want to ensure that no money is left on the table, and one of the biggest money pits we've found is the interest we pay on our mortgages. So in this video, Ben explains six lessons that every borrower sh...

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RBA Cash Rate August 2022: Inching Closer to a Neutral Cash Rate!

As we welcome in a new financial year, we welcome another not-so-surprising change. The Reserve Bank of Australia has once again lifted the cash rate by 50 basis points, bringing the official rate to 1.85%. This marks the most aggressive rate rise in a 3-month period since 1994 (If you’re wondering, back then the RBA lifted the cash rate by...

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The Family Home Guarantee Scheme

Note: This article is an extract from MLC.  If you’re a single parent with dependents, you may be eligible to purchase a home with as little as a 2% deposit via the Family Home Guarantee Scheme. How does it work? You usually need to save a deposit of 20% if you want to borrow to buy a home without needing to pay lenders mortgage ins...

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The First Home Guarantee Scheme

Note: This article is an extract from MLC. You may be eligible to purchase your first home with as little as a 5% deposit via the First Home Guarantee Scheme. How does it work? You usually need to save a deposit of 20% if you want to borrow to buy a home without needing to pay lenders mortgage insurance (LMI). Under the First Home Guarantee...

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RBA Cash Rate July 2022: Yet Another Cash Hike BUT Why Consumer Sentiment is not as bad as it seems?

And just like that, we’re back with another jam-packed economic and RBA update!   This month saw the RBA lift cash rates by yet another 50 basis points, bringing the official cash rate to 1.35% - the biggest month-on-month increase in 22 years and the highest cash rate since early June 2019. Tune in as Ben unpacks this new cash r...

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RBA Cash Rate June 2022: Onwards & Upwards: How high will interest rates go?

The temperatures are dropping, the end of the financial year is nigh and the Reserve Bank of Australia has decided to lift cash rates for the second consecutive month.   The official cash rate has now been lifted by 50 basis points - the biggest rate hike in 22 years - and now sits at 0.85%. The question now remains: How high can we e...

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RBA Cash Rate May 2022: Cash Rate to 0.35% – Find out what’s next here!

As we speed through the first half of 2022, we’re back with another announcement from the Reserve Bank of Australia!   The RBA’s May update is not only packed with global economic news from growing energy and grain prices to the continued invasion of Ukraine and China’s hard lockdowns but sees the RBA raise interest rates for the fir...

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RBA Cash Rate April 2022: An Invasion, a Mandate and a Federal Budget… What does this mean for you?

Another month, another cash rate! A lot has been happening both internationally and domestically over the past month. The Russia-Ukraine war continues, the floods in QLD & NSW, the release of the Federal Budget 2022/23 and heaps more.   If you’re interested in understanding who the winners and losers of the Federal Budget 2022/2...

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RBA Cash Rate March 2022: When Will We Have The First Rate Rise?

There’s a lot happening in the world since Ben’s previous RBA update and unfortunately, there’s not a lot of great news out there from a geopolitical point of view. Here are the key themes for this month’s economic update: What does Russia's invasion of Ukraine mean for the global economy?When will the first rate rise be?How will the...

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RBA Cash Rate February 2022: Biggest Sure Bet Prediction for Property this year

It’s the first RBA Announcement of the year so there are lots to catch up on folks! The last update was exactly two months ago and a LOT has happened since then (take the inflation rate for example!) so tune in for some jam-packed economic update. Here are the key themes for this month’s economic update: The global Omicron wave of th...

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Merry Christmas & What A Year!

Good day, Ben Kingsley here, for what has become a bit of a tradition with our annual Christmas message. I'm getting a little bit older, I think, and now having to wear the glasses. I probably look a little bit more like Santa Claus, probably just need the gray beard. But it's coming, everyone. I just wanted to say, it has been a pretty in...

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RBA Cash Rate December 2021: Has the Property Market Lost its Bullish Mojo?

It’s the final RBA Announcement for the year so there are lots to catch up on folks! The most important question is… are we finally seeing an end to the property market’s bullish mojo? Tune in to this episode where Ben unpacks that and three other key themes for this month’s economic update: Should we be preparing ourselves for th...

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RBA Cash Rate November 2021: Lending Standards To Change?

It’s Melbourne Cup RBA Cash Rate Day folks! In the past, the Reserve Bank of Australia tends to change the rate on race day. Did they change the cash rate as well this year? Most definitely NOT. They simply can’t afford to make any changes to the cash rate yet. Why? Tune in to find out more where Ben unpacks three key themes for this ...

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