Mark Bouris of Wizard Home Loans Asks for Feedback on Rates

Mark Bouris of Wizard Home Loans talks about the impact of interest rates rises on home owners and asks for feedback from Australians. Email responses to or blog below.

19 thoughts on “Mark Bouris of Wizard Home Loans Asks for Feedback on Rates

  1. I think Mark Bouris is spot on – most of my friends are saying that they
    are going to have to cut back with the recent rate home loan rises, and now
    with the Share Market Meltdown, the reserve bank definitely should NOT
    Raise Rates. Tell Mr Glenn Stephens please….

  2. Interesting concept… I’d also be interested to hear what the finacial
    institution who have already raised interest rates intend to do if the RBA
    increase rates? Will they further increase thier already over inflated

  3. 1) I don’t understand RBA’s methods for decision making. 2) Our income has
    not kept pace. We have very young children, on one salary and my husband is
    retraining as an adult apprentice due to injury. 3)We have a small 30yo
    house in a cheap outer suburb. 4) If there’s another interest rate rise, we
    will cope because of answer 3 above. 5) I don’t think there’s a lot of
    confidence in the Australian economy in 2008.

  4. Borrowing money is not rocket science. You should only borrow what you can
    afford to repay. If all you can afford is the minimum repayment, then you
    can’t afford to borrow. If you can afford more, then pay more. My loan
    started at 5.97% in 2003 and has risen to 8.17%. Not much over 5 years, but
    I have been paying it off as though the rate were a fixed rate of 12%. I
    borrowed only what I could comfortable afford, so the rate rises mean
    nothing to me.

  5. Mark so true…… in my other business we have study on the economy. The
    last 40 years the average wage has not kept pace with inflation- the reason
    40 years ago people were able to pay their mortgage, save , buy a car in

  6. part 2 Now because we can’t keep up with inflation – people have been
    getting into credit card debt, personal loans, car loans , eating into
    their home equity just to survive and try and beat inflation. Instead of
    being able to use their equity to invest and create and build wealth.

  7. p3 I have this video and I will add it to my collection in the next few
    days, that shows statistics/of it is not just interest rate rises that is
    the problem- the rich love them as this creates more wealth…. its the
    struggling mums and dads out their that are still living on a average
    minimum wage – not much higher than what it was 40 years ago that feel it.
    I want to help change this. Something needs to be done. Regards Karol J

  8. Mark, i could not believe that in the current situation people are in –
    with banks foreclosing on peoples homes only 2100 people watched your
    video.”Wake up Australia this man is trying to help!”- not many in the
    corporate world give a damn- you need more publicity about the fact that
    you are on here trying to help and collate statistics. Its now April- whats
    happened since Feb? I have sent you an email message too. I would love to
    bring awarness to your cause. Regards Karol J

  9. Tried to send you my Video on Life lessons, have you heard of the
    Eliminator Loan, it is the loan which is paid off in 10 to 12 years saving
    Americans hundreds of thousands of dollars in interest. Check me out on
    Life lessons….and Loan Modifications!

  10. I have a mortgage in NZ floating @ 10% This mortgage costs us $650 per wk
    which we can no longer pay, we have an offer to buy from someone that is
    $80,000 below what we owe. I have tried to talk to people @ Wizard to find
    a way out so that they don’t loose $80,000 and I don’t go bankrupt but
    there is no way through. Now I’m just 1 person and this is just 1 bad debt,
    how much is wizard willing to loose before they start thinking outside the
    square and helping themselves to not go bankrupt too.

  11. After seeing Mark Bouris’ behaviour on The Apprentice, I don’t respect him.
    Silly. Plus he acts like his business is all about helping people. It’s
    not. His business is all about taking people’s money, as much interest as
    he can.

  12. It’s not all about the debts of property speculators. You will not get a
    voice of all Australians if you want to talk mortgages.

  13. I’m happy for interest rates to go up because I didn’t fall for the housing
    scam and instead put my money in the bank. When interest rates go up, so
    does my money. If house prices go down, my kids will actually be able to
    afford a house.

  14. so Wizard have gone broke once already speculating on borrowers ability to
    pay off ridiculous levels of debt secured by real estate, maybe interest
    rates need to rise to reward savers and retirees rather than dickheads that
    can’t live in a house with less than 2 bathrooms and 4 bedrooms. sorry if
    you’ve over leveraged dreaming of easy riches in a ponzi scheme your
    chickens are coming home to roost


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