Chiefs on tour! In November 2024, the MJ Financial Chiefs flew up to Gold Coast to attend AFG’s Broker Conference which included two days of keynote speakers, industry updates, workshops and networking events. We’re pleased to be able to provide a recap of the Chief’s experience at the Gold Coast, which is much more humid than Melbourne!
The RBA is expecting over 800,000 households to experience a massive increase in loan repayments as there fixed-rate mortgages expire in 2023. On average, loan repayments will increase by $1,114 per month as the interest rate moves from 2% to 5.25%. To minimise the rising cost of interest, homeowners will need to refinance their home loans before increasing rates make them ‘mortgage prisoners’.