Mortgage Wars

Hi Scott

I just had to email you to say thank you and that I love your book. I have just rung my bank and followed your script, and was able to get a 0.49% discount on my home loan. I am a single mum and have been so stressed, having recently lost my job. This little win has given me a boost and I just needed to let you know I appreciate your advice.

Linda

Hi Linda,

Sorry to hear about your job, but congrats for making the call!

And for any mortgage payers reading this, you need to follow Linda’s lead. Today.

Here’s why:

Earlier this month the Reserve Bank of Australia cut the cash rate to a new record low of 0.1%.

Even better, the RBA said rates are going to stay low … for at least the next three years.

You know what that tells me?

It tells me just how big a hole the economy is in, and how tough they expect the next few years will be.

Yet that’s a bit of a downer, so let’s focus on the upside.

It’s like the RBA has got the tequila out and is wearing one of those ridiculously oversized hats.

They’re telling us it’s time to part-ay … and hit our bank for a rate cut like it’s a piñata.

If you have a ‘3’ in front of your mortgage rate, it’s time to get out the lemon and salt: shoot for a rate that’s below 2.5%.

There are some amazing fixed rates on offer (even below 2%), but the old Barefoot rule is to only fix your rate if you’re struggling to put sausages on the table. Everyone else should be reading the script from my book, getting a lower variable rate, and smashing their debt.

Olé!

Scott.