Household Finances And The Future Of Interest Rates: With Steve Mickenbecker

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I caught up with Steve Mickenbecker from Canstar to look at the latest in interest rates and how this is playing through into mortgage, savings and credit card rates. The bottom line is there is a wider disparity between the best and worst rates, and households need to shop around, especially as the official cash rate might be going higher ahead.
Steve-Mickenbecker is Group Executive, Financial Services & Chief Commentator at Canstar. www.canstar.com.au/team-membe...
Steve Mickenbecker is in Canstar’s Group Executive Team, bringing more than 30 years of experience in the Australian financial services industry. As a financial commentator for Canstar, Steve enjoys sharing his expertise across topics such as home loans, superannuation, insurance, mortgages, banking, credit cards, investment, budgeting, money management and more.
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Опубликовано:

24 июл 2024

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Комментарии : 45

@nickg1789 16 дней назад

Thanks, Martin, Steve made a good point that all older viewers will know instinctively that rates are actually not high at all. They are just about average 😮

@DJ99777 16 дней назад

I’d rather be homeless than live in western Sydney.

@australiatruelyasia6825 16 дней назад

then get something on northern beaches or continue to sail on a cruise

@Jin-e7q 16 дней назад

Why is there no policy to curb investors from pricing out first home buyers? Albo asleep at the wheels?

@joekeegan-yc4nm 16 дней назад

Yep, he's hardly breathing.

@Elemenopi205 15 дней назад

He’s been asleep since elected in 2022

@moeuramo 16 дней назад

Australians are going to resent Chinese investment soon . So many downsides, very sad unfortunately

@joekeegan-yc4nm 16 дней назад

No it's not!

@scorp2011hd 15 дней назад

@@joekeegan-yc4nmyou’re just SOOOO NAIVE🙄

@joekeegan-yc4nm 15 дней назад

@@scorp2011hd Before you or I are no longer here it's possible the world maybe at war. Gee I wonder who the enemy could be. 💯🎉

@jessekoch3480 16 дней назад

I haven't seen anything come down in price.

@Good-Loser-e3f 16 дней назад

Prices are never coming down. The RBAs target is for prices to grow every year by 3%

@joek292 16 дней назад

you won't see deflation, only disinflation

@jimmyhvy2277 16 дней назад

The Only way is UP !

@HP66856 15 дней назад

$2-$3m price bracket has seen falls in Brisbane.

@jimmyhvy2277 15 дней назад

@@HP66856 It Will Go Up !

@jamesspry3294 16 дней назад

There's a financial cost to refinance (fees). Also, fixed rates mean you can't make extra repayments. I'm concentrating on extra repayments... And interest rates are normal, not high. If you think they are high now you ain't seen nothing yet. We have a generation or two of increasing rates. Think of the seventies or eighties.

@joekeegan-yc4nm 16 дней назад

Go for it buddy! I root for you!

@WhtwaBBiT 15 дней назад

"The interest rate cycle" otherwise known as the "Reserve Banking scam" or the "Consolidation of hard assets into the Banking Cabals ownership"

@duaneahearn5278 16 дней назад

I've never seen so many Investmemt property gurus on the internet as late. Self- leveraged to the eye balls. Australia cannot keep going on its Aussie housing Ponzi scheme in a way of relying on immigrants, holiday makers (air bnb stayers) and government policy to continue propping it up. If society focused on paying their principle place of residents and invested in manufacturing, technology or other means of transportation for international interests then this house of cards would not be balancing on its paper and in its stead actual financial stability. It's not a matter of if but when with the great Australian house of cards. Martin I ask you as I am interested in your answer. If in our life time the cards crash on the Australian Housing market. What do you believe it will be? - Wages out of reach for investment? - Credit serviceability defaults? - Government policy/ negative gearing & SMSF taxable rightoffs on investment propertys? Or anything else that comes to mind that may have overlooked?

@duaneahearn5278 16 дней назад

Ps great show Martin, I thoroughly enjoy when Steve is guest on the segment. Sincerely D. Aiden Ahearn

@joekeegan-yc4nm 16 дней назад

I think hold like that Mohican dude till 2027. Then we all Gunna be smarter.

@williamcrossan9333 15 дней назад

Those "Investment property gurus" are the now 14,000 or so buyers agents which seem to have emerged during covid. ALL suggest interest rates are set to return to the natural level of ZERO. Therefore you MUST buy now, in order to front run the MASSIVE increase in prices which will happen once rates drop. See you buyers agent NOW, fees will vary between 14,000 and 22,000 to assist in making your next purchase!

@joekeegan-yc4nm 15 дней назад

@@duaneahearn5278 Wish you was paid to be in our side!!💪

@jetplane10 16 дней назад

Hello Martin snd Steve 🙂

@robertj.b2494 16 дней назад

I'm on 2% fixed til October tempted to lock in 5% for 5 years

@chrish9155 16 дней назад

No wonder the music hasnt stopped as the party hasn’t started yet 😂

@corzabourne2101 16 дней назад

Peter doesn't realise ai changes everything from demographics to xi living forever

@Dannyttttr 16 дней назад

Martian can you please do an episode on velocity banking it’s such a good way to save years off your mortgage. millennials have no clue about it and I was one until recently.

@williamcrossan9333 15 дней назад

8:00: Indeed, investors are truly scrambling over Perth property. 10 or more "East Coast" investors making offers sight unseen on the very first week on the market, is pretty much a "normal" situation right now.

@Zilron38 14 дней назад

Its been hard for first home buyers for over a decade. It is now impossible for millions.

@HML-it7te 16 дней назад

Less than 10% of views are likes…Come On Aussie come on, come on…

@grizzz6884 16 дней назад

if the people cut back hard and took the money from cuts and paid down their lone . all extra payments will reduce total interest paid , so another saving is made . which means less tax paid as you need to work less

@redsed1565 16 дней назад

The whole system feeds the rich as soon as your born!

@jonahtwhale1779 16 дней назад

Interest rates are going up. The US government has to refinance 7 Trillion dollars of their 33Trillion dollar debt this year. 1. They may take on new debt is to pay back the old. More borrowing = higher rates. 2. They may print the new money. This will give Higher inflation and thus higher rates. 3. Tgey do not have th cash to pay back the debt. Only way for rates is higher!

@chrish9155 16 дней назад

Yes if you don’t give higher rates, who is going to lend your money!

@Elemenopi205 15 дней назад

The never ending printing of money.. I wish I can print money. If I do, I am a criminal

@redsed1565 16 дней назад

Get rid of rates and we'd have heaven on earth!