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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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Thursday, 23 January 2020

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Borrow

Major lender makes it even easier to borrow

By Annie Kane and Grace Ormsby · September 24 2019

Reading:

Borrow

Major lender makes it even easier to borrow

By Annie Kane and Grace Ormsby
September 24 2019

Reading:

Major lender makes it even easier to borrow

By Annie Kane and Grace Ormsby · September 24 2019

Reading:

A big four bank and its group brands will lower their floor rate for home loan serviceability next week for the second time since July’s deregulation of loan serviceability.

Westpac has said it would be lowering its floor rate from 5.75 per cent to 5.35 per cent on 30 September across all Westpac Group brands, including Westpac, Bank of Melbourne, BankSA, RAMS and St.George.

It follows on from its July decision to reduce its interest rate floor for home loan serviceability assessments from 7.25 per cent to 5.75 per cent (and increase its buffer from 2.25 per cent to 2.5 per cent) off the back of the Australian Prudential Regulation Authority’s decision to scrap its 7 per cent interest floor and raise its buffer to 2.5 per cent.

As such, the serviceability assessment rate (SAR) will change.

Westpac advised that should a loan’s variable rate and the 2.5 per cent buffer equate to less than the 5.35 per cent floor when combined, then the floor rate would be used for the serviceability assessment.

However, should the variable rate and buffer be greater than the floor rate (5.35 per cent) when combined, then this figure would be used for the SAR instead.

Speaking of the reduced floor rate, Westpac Group’s general manager of home loans, Will Ranken, commented: “Westpac Group continually reviews its home loan products and services in line with market conditions and customer needs.

“Following careful consideration, we have decided to decrease the serviceability assessment floor rate from 5.75 per cent p.a. to 5.35 per cent p.a. for all Westpac Group brands.

“We are committed to helping customers into their homes, and this change may have a positive benefit for qualified borrowers looking to take out a loan for a property.”

It brings the floor rate in line with that of Macquarie, which previously had the lowest floor rate of the main mortgage lenders.

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About the author

Annie Kane and Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.