The Financial Physicist Video Log

Rates to go on hold

Hey Greg Hearn the Financial Physicist it’s the 3rd of February my first video blog for the year down here at Bar Beach as you can see it is going off over my shoulder way too big for me anyway I just want to touch base and go okay interest rate where are we at the meeting I’ve got a dog who’s licking my toes now that’s funny um the meeting for The Reserve Bank is next Tuesday they will now put it on hold as of last Tuesday I was a 50/50 call as to whether they would hold rates because there was a lot of people overseas and what appeared to be a lot of spending at Christmas but it seems from the numbers that have come out and a bit of confirmation from the big banks that that’s not going to be the case in fact the big banks were saying uh through the week earlier in the week um that uh there would be no more rate rises which I didn’t quite agree with at that time but they know more than me uh and the um rate reductions would start October November CommBank came out yesterday and said the Reserve Bank went too far which is exactly what I said it probably went 2 rate rises too far and there’ll be definitely no rate rise on Tuesday we’re done with rate rises and we will have three rate rate reductions this year so that’ll be interesting to see and I thought we should have we shouldn’t have gone the last two and we should have been cutting from about June July they’re now saying September October November or October November December so it’ll be interesting to see anyway that’s it for me peace out

The Financial Physicist Video Log

Introducing Kirsten

Gday Greg Hearn the Financial Physicist is here today with Kirsten now most of you know Kirsten through email and phone calls but today I thought I’d introduce her so there you go Kirsten say hello hello so Kirsten’s worked for me for how long two and a half years or over two and a half years yeah she’s lasted amazing don’t let anyone laugh at that it’s not funny um uh now I didn’t tell her we’re going to do this today because we just had a catch-up lunch talk about a few things and because I reckon if I tell them we’re gonna do a video she wouldn’t have turned up so she has not done her hair and has got no makeup so you just and I haven’t either but you know I think my my hair is okay today so yeah um what’s been happening of course we’ve got the uh new Reserve Bank Governor coming um all right now she started in in her job Dr Phil’s gone Michelle’s in place um and she’ll have her first meeting Tuesday week so that will be interesting I don’t think that we much change she’s been here for something like 40 years for crying out loud she’s going to be very ingrained in the system so we’ll see um we are seeing at the moment interest rates they’re all over the shop to be honest we’ve got fixed rates going down we’ve got variable rates from some lenders going down we’ve got variable rates from some lenders going up it is all over the
shop one of the things that Kirsten does that um really take some time but it’s worthwhile she’s been doing reviews on files and how are you going with that what are we getting from from those reviews um good we’re getting small decreases in some cases sometimes not so good um but if you’ve been with your lender for a while then you know we can do a full review of where you’re at and see what options there are for you yep and so um the on the other side completely lost my train of thought um we sent out some emails this week to a few clients just asking to update some details so if you can get those back to us kids some lenders we can get really easy access to what your rate is but other lenders are just really painful you can spend 20 minutes half an hour 45 minutes on the phone just to get them to answer for one client and then you’ve got to hang up and ring back again it’s like as do you know when you’re in banks its painful and just as painful for us uh we are sitting at a cafe and that kid just screamed so if you’ve heard them sorry um uh so yeah so that’s that um the market’s still going okay um they certainly there’s certainly enough activity in the market um we are seeing a lot of people looking at investment properties at the moment aren’t we yes yep still and the other thing we’re probably up ticking with a bit on the moment is commercial so um that’s and that’s a good thing so um yeah it’s worth keeping that in mind if you’re thinking about a commercial property certainly don’t hesitate to reach out and talk to us anyway that’s about it from us say bye Kirsten hi okay peace out bye