Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.
"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.
"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email firstname.lastname@example.org
Thursday, 23 August 2012
3 year fixed rate mortgages from 5.5% - lowest since the GFC
Down, down, deeper and down for those fixed rate mortgages on offer.
It now seems uncertain which way interest rates will move next. Futures markets are still pricing in a couple of rate cuts over the next 6 months but positive retail data, strong GDP growth (mainly fuelled by mining investment it would seem) and low unemployment all suggest the next rate move might be upwards.
On the other side of the coin the Aussie dollar was as high as 105.46 cents at one point today and inflation is still trending low.
While most are still opting for variable rate mortgages as is the norm in Australia, many investors and homebuyers will become tempted to fix a mortgage at those kind of rates, the banks dropping rates as competition for business hots up.
API reports here that while the average fixed rate is below 6%, there are deals out there as low at 5.5%.
Unseasonably warm in Sydney today, hitting 30 degrees which is most unusual for the middle of winter. Paying for it now though, a tremendous electrical storm has just come in from the west.