Interest Rates on Hold – What is your next step?
With the financial turmoil, Europe’s debts and current credit squeeze, you need to hope for the best, but prepare for the worst!
Remeber the adage – buy in gloom and sell in boom!
To weather the potential storm or take advantage of potential opportunities, you need money or available money.
If you have equity in your property, consider of taking a line of credit. Cash is king. Loans will become harder, and what you are able to get now, you may not be able to get later.
Is it the right time to lock in interest rates over the next 3 – 5 years? I am going to!.
Interest rates may get cheaper. The risk, in my view, isn’t the interest rate, but the ability to get cash due to a potential credit squeeze!
Those with lines of Credit or available funds will have a competitive edge!
Click here for Michael Luca’s commentary on the RBA’s interest rate decision.
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