This year our main sponsor for the CEBA Charity Lawn Bowls Night is Funeral Care.

 We thank Bill Dobson for kindly sponsoring this years event.

If you havent booked your team in yet or if you have items to donate for the auction please

contact Peter Gardner at the CEBA office.

 As usual it will be a fun night at the Bedford Lawn Bowls Club.

Available for Download now is a copy Saul Eslake's talk on the 'Road to Recovery' conference hosted by the Melbourne Institute and The Australian on the 5th November 2009, which may be of interest.

Download the article -  'After the Crisis: What are the Social Policy Challenges'
 

For further insights in to the ecomony you can visit the Grattan Institute's website
 
 
Saul Eslake
Program Director - Productivity Growth
Grattan Institute

Web: www.grattaninstitute.edu.au

Bernie Foley has sent through the latest press release from Mortgage Choice.

For more information contact Bernie Foley at Mortgage Choice Dianella

Saddle up for the rate rise ride

Second cash rate rise for the year setting the festive season scene

In a move expected by most Australians, the Reserve Bank of Australia (RBA) has increased the cash rate by 0.25 percentage points for a second consecutive month, to 3.5%. This follows positive results from economic growth indicators, signalling a need to reduce the monetary stimulus provided over the past year by historically low interest rates.

 Download the Complete Press Release on Interest Rate rises from Mortgage Choice here.

The last time the country’s official interest rate was higher than 3.25% was in December 2008, when it had dropped quickly to 4.25%.

Once passed on by lenders, the November 2009 increase will affect the majority of mortgage holders - even more so than in the past, now that 95% of all new loan approvals nationally are for variable rate loans, according to Mortgage Choice customer data.

Local Mortgage Choice Franchise Owner Bernie Foley said, “The November and October rate rises, if passed on by lenders, see variable rate loan repayments increasing by almost $100 per month, based on a 30-year $300,000 mortgage with a rate that stood at 5.75% beforehand.”

“A borrower with this mortgage would have had to adjust their budget by $47.93 for the October rise and $48.50 for November’s, when passed on by their lender. If rates rise by another 0.25 percentage points in December, as many are predicting, and lenders pass that on, this borrower will watch their monthly mortgage repayments rise by another $49.05.

“A savvy mortgage holder will already be making repayments as if rates were at least one or two percentage points higher. However, a number of Australians are adjusting to rate rises for the first time while others may have become too comfortable with the low rate run we have been enjoying. For those finding the changes a challenge, it is time to reassess budgets and consider the options available.”

Bernie Foley, CEBA Member and franschisee for the local Mortgage Choice has sent through the latest media release on strategies to cope with rising interest rates.

Download the Document here:

Bernie Foley can be contacted here:

Mortgage Choice (Dianella)

08 9376 1922

or via the web here.

Winners and Runners up of the CEBA / City of Bayswater Small Business Awards for 2009 can now been seen in our picture gallery.

Click here to view the gallery 

More pictures will be added soon,