Amit Arora-MCP Financial Services

07/04/2023

04/04/2023

The RBA decided today to hold the cash rate at 3.6%. This ended a cycle of 10 consecutive rate increases since May last year. Further tightening may be needed but the RBA recognises that monetary policy operates with a lag and that the full effect of the substantial increase in interest rates is yet to be felt.

The decision to hold interest rates steady this month provides the RBA additional time to assess the impact of the increase in interest rates to date and the economic outlook.

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M: 0493 027 707

13/03/2023

Relationship between house prices and mortgage rates as per recent analysis by Domain.

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W: www.mcpfinancial.com.au
M: 0493 027 707

07/03/2023

The Reserve Bank of Australia ("RBA") met today for the second time this year, raising the official cash rate by a further 0.25% to 3.60%. The momentum on market interest rates and strong commentary around inflation, meant the move had an inevitable look about it despite some softer local results.



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W: www.mcpfinancial.com.au
M: 0493 027 707

07/03/2023

It is a great opportunity to litmus test your overall investment strategy.



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W- www.mcpfinancial.com.au
M- 0493 027 707

28/02/2023

Property market update

- According to the experts, the sharp slowdown in house price declines in February is more a “false dawn” than a fundamental shift in the housing market.

- CoreLogic’s data shows price falls lost further momentum over the month as home values dropped by 0.14 per cent nationwide – the smallest monthly fall since interest rates started rising in May last year.

- Stabilisation in the housing values in February coincided with consistently low advertised supply levels and a rise in the auction clearance rates.

- New listings have dropped by 17 per cent in the past four weeks compared with a year ago and are now sitting 11.9 per cent below the previous five-year average.

- Improving trend might not last, as downside risks still remain significant with higher interest rates, weakening economic conditions and fading consumer confidence.

- Rising interest rates continue to put a constraint on the buyer’s capacity to borrow and is getting worse. Historically borrowing capacity has a rough correlation with the house prices.

E: [email protected]
W: www.mcpfinancial.com.au
M- 0493 027 707

With a wealth of experience helping people manage their personal and business finances, MCP Financial Services have different skills for different needs of our Customers.

27/02/2023

Credit Scores & Your Character - Why Both Matter

“Lending is not based primarily on money or property. No sir, the first thing is character.” J.P. Morgan

- In the light of the recent cyber security breaches - it is important to check your credit report on a routine basis to ensure there have been no unauthorized enquiries or use of identity.

- You can get a free copy of your personal Equifax credit report via www.mycreditfile.com.au
*Eligibility criteria apply

More information?
E - [email protected]
W - www.mcpfinancial.com.au
T - 0493 027 707

24/02/2023

Top cashback offers in February 2023

There are some exciting cashback incentives being offered by financial institutions so if you're looking at refinancing or buying a new home, here are some of the cashback offers available this month.
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W - www.mcpfinancial.com.au
P - 0493027707



*Terms and conditions apply to each of these offers

23/02/2023

It was great to be invited today for an Economic update by the Westpac Business Bank Chief Economist Besa Deda. The key takeaways:

- Inflation continues to be the main driver for the "RBA" to keep increasing the cash rate.
- There is growing evidence that inflation is expected to have peaked in our economy, and is now beginning to moderate.
- Markets anticipate a peak cash rate of almost 4.25% by Q3 2023 so at least 4 more rate hikes are expected in the near future.
- Melbourne property market down almost 10% in the past 12m however it's unlikely to have another double-digit drop in the next 12m.
- International migration arrivals have rebounded strongly and will address the skills and labour shortages in our economy.
- A recession is unlikely however if otherwise then it is expected to be mild that will ultimately be corrected.

Thank you Rajiv Khanna- Westpac for inviting me. As a keen market follower, it was great to be there and get insights on our economic outlook.

21/02/2023

Residential Property Update

-Latest residential monthly property results from CoreLogic show the consistent decline trend.
-All capitals were in negative territory last month with Sydney's median price fell below $1M.
-Current fall is the largest since modern data has been collated, the balance is that it is coming off such a significant Covid-19 upswing.
-Number of listings remained down on the same time last year with new home listings slumped by 19.6 per cent to 42,409 over the month in January, the lowest level in three years, data from SQM Research shows.
-Melbourne posted the sharpest decline of 21.2 per cent, followed by Adelaide with 19 per cent. Perth, Canberra and Darwin also fell sharply, while Sydney and Brisbane added a handful of new properties to the market. Hobart defied the slowdown, notching a 9.2 per cent rise in listings over the month.

13/02/2023

Our MCP Monthly Economic and Property News paints a picture throughout the year for clients, bankers, lenders and professional advisers. Below are our insights for Feb 2023. To subscribe please visit https://blog.mcpfinancial.com.au/.