Yesterday NAB released it's Global and Australian GDP forecasts, a summary of which is below:
Today the Australian Wage Growth data has been released, summarised below:
As we have previosuly written current fixed mortgage rates for 1,2 and 3 years are around 5.8% which is below the current discounted standard variable rate for the major lenders, so now might be a reasonable time to fix. The reason for fixing should always be to have certainty of payments rather than trying to beat the bank's variable rate.
If you would like advice about your specific situation please contact us.
The full releases are below:
http://www.medicalfinancial.com.au/images/120814GDPForecasts.pdf
http://www.medicalfinancial.com.au/images/120815WPIandConsconf.pdf
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The information on this site is of a general nature. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.
The financial planning services are provided by Medical Financial Pty Ltd trading as Medical Financial Planning (AFSL 506557)