Cash rate for May remains unchanged at 0.1%

Reserve bank of australia sign

The RBA held its monthly board meeting today and as expected, maintained the cash rate at 0.10%.

As a sign the economy is growing at a healthy but controlled pace, the RBA is heavily focused on restoring inflation to within its 2-3% target range.

The recently released March quarter consumer price index data shows the annual inflation rate at just 1.1%, reaffirming we are unlikely to see an interest rate rise for some time.

Rates are at a record low and lenders continue to offer very competitive rates.

An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

Cash rate for April unchanged at 0.1%

The RBA met today and as predicted by most economic experts left the cash rate at 0.10%.

The RBA has previously stated that it does not expect rates to increase until it sees sustained wage growth and inflation returning to within its target range of 2-3%.

With growing speculation that APRA will be required to intervene to stem the country’s booming housing market, all eyes will be on the statement that follows today’s announcement for any change of tone.

Rates are at a record low and lenders continue to offer very competitive rates.

An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

RBA’s cash rate unchanged at 0.1% for March

Reserve bank of australia sign

The RBA met today, leaving the cash rate at 0.10%, in line with their previous guidance that they expected rates to remain unchanged for some time.

The market has been speculating that rates may rise as early as late next year based on optimism around the vaccine rollout, surging iron ore prices, a strong housing market, a rebound in business investment and record government stimulus in the United States.

The Reserve Bank has previously stated that it did not expect rates to increase until 2024 and until inflation increases to within the bank’s target range of 2-3% and wages growth is materially higher.

To support lower rates and protect exporters by pushing down the rising Australian dollar, the RBA has recently stepped up its government bond buying program.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

First RBA meeting for 2021 leaves cash rate unchanged at 0.1%

Reserve bank of australia sign

Today the RBA met for the first time in 2021 and have decided to leave the cash rate unchanged at 0.10%.

Our central bank will have been encouraged by recent better than expected unemployment and CPI numbers. It will also be keeping a close eye on rising house prices, lending growth, the continued impact of COVID-19 on our major trading partners, the Australian dollar and its effect on exporters and the looming reduction to government support packages.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, they have a pretty good idea what lenders can do to win or keep your business.

We’re here to help if you have any questions. Please don’t hesitate to get in touch with an AFG broker.

AFG adds global award to trophy cabinet

Australian Finance Group has won a global award for the company’s bespoke broker learning development program and platform.

AFG is one of three winners globally in the SAP Litmos ‘Lenny Awards’ in the category – Best Customer Training Program.

SAP Litmos has over five thousand enterprise customers and 22 million users in more than 130 countries and received hundreds of entries across each of the 10 distinct categories in the 2020 Lenny Awards. This year marks the first time AFG has entered the awards.

The global award comes on the back of AFG’s recent national award for Training & Education Program of the Year in the 2020 Australian Broking Awards.

2020 has seen the company’s L&D platform, called Learn, expand to more than 265 courses for the AFG broker network to access within the platform. In addition, brokers can also revisit video and instructional content from past courses at any time.

AFG CEO David Bailey thanked the Learning and Development (L&D) team for their innovative approach and support of the AFG broker network. “We recognised early on that the disruption caused by COVID19 would mean the way brokers would want to access training, support and information would change very quickly.

“The L&D team of Peter Kailis and Sahani Burah have worked throughout the disruption caused by COVID-19 to ensure our brokers were supported with access to world-class training, resources and professional development opportunities” he said.

Across the year, AFG have also run 142 webinars which were attended by 40,655 brokers on top of their regular online lender accreditation series. In total, our brokers have completed over 70,000 CPD points using the AFG Learn program.

AFG broker Catherine McFarlane, Oxygen Home Loans General Manager, congratulated the L&D team on the win and thanked them for the role the L&D team played in keeping the sense of community among AFG and the broker network. “I reached out to Peter to thank the team for all of their hard work on the webinars this year. They were a godsend for many people through such a tough year and their efforts did not go unnoticed.”

“AFG has been working to support our brokers’ personal and business growth for over 26 years,” said David. “With an easy-to-use platform supported by industry leading content and tailored training courses, as well as a protective compliance framework, we are confident our brokers will continue to be at the forefront of the industry.

“The success of our business rests with the commitment we have to providing the platform for their success.”

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AFG Launches New Digital solution, Customer360

AFG Customer 360 mock-up

Australian Finance Group Ltd (AFG) has launched Customer360, a new broker fact-find and document collection tool which is now available to all AFG brokers Australia-wide.

AFG Chief Operating Officer, John Sanger said, “Customer360 is the first product to be rolled out as part of AFG’s full technology and platform refresh and will sit as part of our game-changing platform for brokers called Suite360”.

“The ability for a broker to deliver a frictionless and user-friendly fact-find to their customers is key to ensuring a good experience and driving their efficiency.”

“For those customers who prefer a digital engagement experience, Customer360 saves time by collecting the right information at the right time in the application process.”

“In addition, it lays the groundwork for a faster application process by securely collecting supporting documents and integrating seamlessly with AFG’s new CRM platform.”

Customer360 is part of AFG’s broader suite of broker tools, which includes other products like their award-winning SMART Marketing and Learn L&D platforms.

AFG Chief Operating Officer John Sanger spoke about how AFG’s strong focus on continuous technology innovation is key to keeping pace with changing industry demands and customer expectations. “We have taken this opportunity to refresh our underlying technology platform, working with leading enterprise technologies together with start-up innovators,” said John. “We have been very fortunate to have support from a range of broker groups, from individual operators to large scale enterprises, to ensure the design of new products like Customer360 work for all business types.

“We would like to thank the AFG Brokers who have taken the time to provide their insights and test the tools as we develop the new suite. Their help has been invaluable and ensured that the customer experience is kept front and centre.”

“The changes we are making now will give us flexibility and agility as we build tools and applications for brokers into the future.”

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Mark Hewitt recognised in Mortgage Global 100 List

AFG is proud to announce that AFG General Manager Industry & Partnership Development, Mark Hewitt, has been named in the second annual Global 100 list.

Spanning the US, Canada, Australia, New Zealand and the UK, the Global 100 recognises leaders making a difference in today’s market through the achievements of their own companies, industry associations and industry education.

Mark is a prolific contributor to the Australian Mortgage Broking industry with dual roles as AFG General Manager Industry & Partnership development and co-chair of the Combined Industry Forum.

Click here to view the full list.

The announcement that stops the nation, cash rate decreased to 0.1%

As the country tunes in for the 2020 Melbourne Cup, the cash rate decision for November has been announced and rates have been cut.

In response to the economic impact being caused by the COVID-19 crisis, the RBA reduced the cash rate by 0.15% to a new record low of 0.1%.

In making this change the RBA has confirmed the views of many analysts that further stimulus is required to aid Australia’s recovery post COVID.

It had previously stated that it sees a cash rate of 0.25% as a floor however it has softened its stance on a reduction more recently.

In the lead up to its next meeting our central bank will continue to monitor world events such as the second round of European lockdowns and the US election, while closer to home it will be hoping the easing of restrictions in Victoria and the opening of state borders will provide a lift to the economy.

As you’re probably aware, lenders review rates independently of the RBA and some may decide to pass this rate decrease on to customers at different levels over varying time frames.

An AFG broker can help review your situation to ensure you have the right loan for your circumstances, drawing on a wide panel of lenders offering loans with great features, low fees and competitive interest rates.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.

RBA’s cash rate for October unchanged at 0.25%

Reserve bank of australia sign

The Reserve Bank of Australia has today kept the cash rate at 0.25% for the 7th straight meeting in a row.

The RBA was widely predicted to reduce the rate further in October or November, although with the Federal Budget due today, the majority favoured a Melbourne Cup rate cut in November.

It has previously stated that it sees a cash rate of .25% as a floor but may need to consider the merits of a further reduction against other stimulus options, if signs of a recovery fail to emerge.

Rates are at a record low and lenders continue to offer very competitive rates. An AFG broker can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because an AFG broker does this type of work every day, and has a pretty good idea what lenders can do to win or keep your business.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.