Australian sub prime mortgage market.

Apparently over a mill, selling in 12 months who knows, well yes we probably do.........less!

 

can't do the twin reply thing so........

Bank could not see any proof of income and/or servicing and basically called in the O/D. I agree it makes no sense but then in the current market what the hell does? Not sure whats happening your side of the pond but here servicing is everything, Lo Doc and No Doc lending virtually non-existant.

 

might be worth buying monday and selling tuesday with an hour to go.

am paying around 6.1% interest at the moment, but my bills roll every 90 days, so i'm probably not at the lowest variable rate at the moment.

 

never been a better time to get into debt!

 

While interest rates are falling at the moment, the 2-5 year outlook may yield some surprises.

Latest headlines from the US:
The Federal Reserve and the Treasury announced $800 billion in new lending programs on Tuesday, sending a message that they would print as much money as needed to revive the nation’s crippled banking system. http://www.nytimes.com/2008/11/26/business/economy/26fed.html?_r=1&th&emc=th&oref=slogin

And of course Rudd's announcement today that the budget may go in to deficit all point to the possibility of higher interest rates in the medium term.

Anyway, if you think it's a good time to buy in to the market in a big way, CFD's are worth a look. There is massive leverage so you don't need as much capital, but the course interest rate charged on long positions isn't going to be as low as 5% but more like 7.5 to 8%. But the extra leverage you gain using CFD's should easily compensate for the higher interest rate charged.

M

 

My last bill rollover was 6.2%. Will be interesting to see where it is next month. Had some fixed at 6% which has been great over the past few years. Luckily that fixed one expires soon.

Also please do shed some light on how one would get access to 10mill. What sort of equity are the banks requesting in the current climate?? Surely they won't continue margin lending at the current levels. I would expect them to reduce it from the 70%????

 

What's it to you?

 

...you can't afford it anyway...

See Porsche have changed mind about VW takeover...
http://www.news.com.au/business/story/0,27753,24713460-31037,00.html

Sales are slipping of their cars, surprise surprise.

Was at Maranello Conc. on Sunday for a Club get together, and it's noticeable how much stock they have about the place, especially the Maser GT and the new S versions. There have been at least half a dozen parked out the front for about 2 weeks, not appearing to move/change. 2 x 430 Scuderias inside, plus a 3-4 normal spiders/berlinettas, plus a few 360s (inc. CS) and a couple of 612s and 3-4 599s. officially everything is find and they had good October sales, but the evidence appears otherwise for November. How long do you wait before making a lowball offer on a new/near new car???

 

it's ok ash. i ring my bank manager and he gives me the money, pretty simple.

 

let's take scud's financial advice!

http://ferrarichat.com/forum/showpost.php?p=138002759&postcount=1334

 

oooooops...forgot this one

http://www.ferrarichat.com/forum/showpost.php?p=136995069&postcount=282

 

Ditto

 

Stock market to double in 5 years? That needs over 14% PA growth...I reckon you'd be lucky to get the 4% you need to cover the borrowings over the next couple of years.

 

Maybe I need your bank manager!!

 

why the doom and gloom all the time? maybe i should have said picking some stocks that have been belted recently to double in 5 years. i think westpac was at what $15, and giving around a $1.20 dividend? you do the math.

 

not where i shop

 

finance broker?????