Another Interest Rate Rise

Good morning Greg Hearn the Financial Physicist it’s been a few weeks I actually had a couple of weeks of holidays morning um and uh and but I had probably a week off doing YouTube videos before that as well so I’m here this morning I’ve been hankering to this for a little while so we’re at um at where Pambula River meets the ocean and it’s just a magical spot I’ll spin this around a bit so you can see uh it’s just absolutely stunning and you can you’ll see that the clear you’ve got the top of my head now sorry I took my hat off um clear turquoise waters which is why it’s called the Sapphire Coast so it’s absolutely amazing place so yeah hence why I love living here sadly no surf today uh just a little bit too flat so yeah uh obviously this week we had a rate rise which was in my head was a 50 50 call I reckon 10 days ago or 10 days before the rate rise I was no but as it got closer I think the the conditions were saying they’re probably going to do something and they did uh I just got to say I think uh Dr Phil and Dr Jim are really out of their depth um the economy is slowing there is no doubt about it retail sales are off people are starting to lose their jobs although unemployment is still really low and so that’s that’s that’s probably the driver towards it um but that interest rate rise is really hurting people and that’s it’s just uh it’s just a bit scary uh at the moment so there’ll be a lot of people hurting what will go from here so most people now will be just under it should be just under six percent uh for your owner occupied home loans just over for your investor loans um so if that’s not right certainly put your hand up the other but I think that the other thing and I’ve had calls this week too I’m actually holding the selfie stick today so it’s a bit more bumpy sorry um but there’s nowhere to lean it here and do this get get such a good view um the other thing this week I’ve had way more calls from people that are really starting to get stressed and stressed about what’s coming I have always said and you go back into my YouTube I think a six percent is that peak that ceiling after that we are in really stressful times okay I think most people will cope to six percent they’ll and there’s a few that aren’t um no toys are in that um so we’re just like we go again and they’re tipping either a July or August right rise interestingly even the Westpac Economist who has been probably one of the more um optimistic I guess he’s now saying there’s one more rate rise um and uh Commonwealth Bank are agreeing ANZ are saying two more NAB is saying a couple more but they’re putting out the rate reductions out to early new year which is not a good thing so we’re going to be in this situation for a little while um I will do a piece to blog this week uh and uh talking about you know measures to save and what can be done so look out for that um but yeah if you’re stressed and things are not going well for you please put your hand up give me a call 0421 689 999 just ring me leave a message whatever talk to me send me an email however you want to do it just let’s talk to see if we can’t look at your budget look at where you’re spending what can be done all right that’s it from me peace out thank you bye