Short weeks... and some very cautious optimism.

It was lovely to have time off over Easter. Even the end of daylight saving can be a blessing as it gives us brighter mornings for a while.

Of course, the work still has to be crammed into short weeks. Our diaries have been packed with loan reviews as we help clients work out whether they’d be

better off with different structures.

Everyone’s trying to second-guess interest rate movements – which is not something we’d recommend. It can be an unnecessary distraction from focusing

your own financial priorities and options.

That said, we’ve noticed one encouraging sign.

Unadvertised 'special rates' have been drifting down.

While the banks have kept their ‘carded’ rates steady, the special rates they don’t publicly advertise have slipped a smidgen.

These rates are sometimes available to clients when we submit a request to refix or refinance. They’re unpredictable as they are totally discretionary, based on the bank’s judgment about the loan size and LVR (loan to value ratio). The less risk to the bank, the more likely they are to drop their rate, so we can expect to get an offer that’s lower than the advertised rate.

In recent months, we have seen a few mortgages go through with a rate that was better than expected. We have no control over this – it’s up to the bank. But all else being equal, it’s nice to see our clients getting a better deal.

It’s tempting to speculate that perhaps the banks are picking an end to the current high OCR environment in the medium term. We have no idea. At some

stage the trend will become clear.

Note that none of this changes our usual advice, which is that you should get the mortgage that’s best for you. Don’t try to time the market and beware of placing a bet that you’ll get a better rate in six to 12 months. No one knows what will happen in the world or in your back yard.

In the meantime, we’ll continue to focus on making sure you’re set up with the best mix of loans and insurance policies to help you achieve your goals.

Want to talk about it? We’re here.