Friday Wrap 20 Sept 2024
from Finance and Coffee: Friday Wrap Hosted by Finance and Coffee
News and views relating to the F&C Community and the wider broker industry. Hosted by Sadish Visvalingam and Beth Comino This week we have Michael Russell (MD MoneyQuest Group) on as guest. TOPICS: (1) Right to disconnect A "right to disconnect" rule has come into effect in Australia, offering relief to people who feel forced to take calls or read messages from employers after they finish their day’s work. Discuss: How will this affect a broker’s business? Source article: click here (2) NAB Announces new Commission changes Effective from 1st September 2024, NAB has introduced a stepped clawback commission rate for new residential loans, easing the burden on brokers when clients refinance. Discuss: Is this really a win for brokers? Source article: click here (3) US Fed cut rates by 50bps. Will the RBA follow? A few things to consider.: We also see some lenders with sharp fixed rate drops (e.g Macquarie 5.59% 2 yr Fixed). However - the unemployment rate is still low (their target is 5%. Currently 4.2% in July) and inflation is still too high (currently tracking around 3.8% Year in Year). Discuss: will the RBA follow next month? Australia is the only Western Country not to drop rates. Source article: click here (3) US Fed as moved rates: what does this mean for RBA? And of course we ask Michael “what advice he would give to a broker who has just completed their send year in business”
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