Community Associations of today are the Neighborhoods of yesterday

An appeal from the Salvation Army for toys for needy families has resulted in an avalanche of gifts and donations from the community and local businesses.

Salvation Army Lieutenant Dean Clutterbuck made the appeal after wet weather affected donations to the annual Mudgee and District Bikers Club’s annual toy run. Continue reading Community Associations of today are the Neighborhoods of yesterday

Region to promote escape from coastal congestion

The Mid-Western region is being sold as an escape to beat “coastal congestion” this holiday season.

Mudgee Region Tourism Inc. CEO Lucy White said the region had plenty of greenery to admire, many museums to visit and an abundance of adventure experiences.

“For instance Mudgee has become a popular destination for cyclists and their families,” she said.

“You can cycle your way around the vineyards or other areas and not have to worry about coastal traffic.” Continue reading Region to promote escape from coastal congestion

RBA cuts interest rates for Christmas

The Reserve Bank has cut interest rates by 0.25 per cent.

The 25 basis point fall comes on the back of a similar cut last month. The reduction is good news for people paying off a mortgage. “This will put an extra $60 into the pockets of borrowers each month,” says Domain property expert Carolyn Boyd.

The official interest rate is now 4.25 per cent.

Each 0.25 per cent drop in interest rates slices about $60 off the monthly interest cost of an average Australian mortgage.

Boyd says, coupled with last month’s cut, the drop represents a double windfall for borrowers because if they can keep their repayments at the same level they will be able to pay down their mortgages faster.

“It’s a smart idea to keep your repayments at the same amount as you were paying before this cut, and the one on Melbourne Cup day,” she says. “That way you can pay your mortgage off sooner but have no less money in your pocket than you did last month. There’s plenty to gain here with no extra pain.”

Many lenders don’t automatically readjust repayments when rates are cut, meaning borrowers often have to simply sit back and watch their loan shrink faster when rates fall.