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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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CBA joins spate of lenders changing mortgage terms

By Cameron Micallef and Charbel Kadib · July 22 2019

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Borrow

CBA joins spate of lenders changing mortgage terms

By Cameron Micallef and Charbel Kadib
July 22 2019

Reading:

CBA joins spate of lenders changing mortgage terms

By Cameron Micallef and Charbel Kadib · July 22 2019

Reading:

The Commonwealth Bank of Australia has changed its mortgage serviceability terms, making the hurdles to accessing finance lower for new clients.

The Commonwealth Bank of Australia (CBA) has lowered its floor for home loan serviceability assessment from 7.25 per cent to 5.75 per cent and increased its buffer to 2.5 per cent.

The changes come into effect for all new home loan applications starting from Monday, 22 July.

The major bank is the latest lender to adjust its serviceability policy after the Australian Prudential Regulation Authority (APRA) changed its home lending guidance.

Previously, APRA required a 7 per cent interest rate floor for mortgage assessments. Now, lenders can assess their own serviceability terms.

In a statement to nestegg’s sister publication, Mortgage Business, CBA’s executive general manager of home buying, Dan Huggins, said: “We welcomed APRA’s decision to update its guidance relating to serviceability assessment rates.”

“Following a review of our serviceability rates based on APRA’s new guidance, our portfolio and our risk appetite, from Monday, 22 July, we will introduce a new 5.75 per cent floor rate and 2.5 per cent interest rate buffer.

“In considering and delivering these changes, we have ensured we continue to meet our regulatory commitments and drive great customer outcomes whilst also delivering a timely and consistent service.”

CBA joins the likes of ANZ, Westpac, Macquarie, Suncorp and MyState, all of which have adjusted their credit policies in response to APRA’s announcement.

ANZ has slashed its interest rate floor from 7.25 per cent to 5.5 per cent (effective from 15 July), while Westpac Group – which includes its subsidiaries Bank of Melbourne, BankSA and St George Bank – has lowered its floor from 7.25 per cent to 5.75 per cent (effective from 16 July).

Meanwhile, Macquarie and Suncorp have undercut the majors, slashing their interest rate floors to 5.3 per cent and 5.5 per cent, respectively.

MyState, however, has adopted a more conservative approach in its response to the regulatory changes, lowering its interest rate floor to 6.2 per cent, effective from 15 July.

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About the author

Cameron Micallef and Charbel Kadib

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.