Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Tuesday, 10 March 2015

Lowest variable rates in 60 years

RateCity has calculated that the average standard variable mortgage rate (SVR) has declined to its lowest level in six decades as result of industry-wide interest rate cuts.

"The Reserve Bank’s decision to cut the cash rate in February will save the average borrower around $700 over the course of 2015, according to a mortgage comparison website.

Despite no movement on the cash rate by the RBA on Tuesday, RateCity calculated that the average standard variable rate has dropped to 5.07 per cent this year – the lowest in 60 years – as a result of industry-wide rate cuts.

RateCity’s financial analyst, Peter Arnold, said the RBA’s February rate cut of 0.25 percentage points was “big news as we hadn’t seen a rate move in around 18 months prior”. 

“Since then, we’ve seen the majority of lenders – 77 out of 100 in the RateCity database – pass on that cut in full, and even nine lenders have moved to pass on more than that,” he said.

RateCity’s calculations show that February’s rate cut represents a saving of around $700 over the course of 2015 for borrowers with a $300,000 home loan.

For people living in Sydney and Melbourne, the savings will be close to double that."