Its Business as Usual - Cash Rate Remains at 2.50%
The RBA has announced it will be keeping the cash rate on hold at 2.50%, as predicted.
“Soft jobs news and the poor business investment outlook do suggest though that our expectation for rate hikes to commence later this year may be premature, with the risk being they won’t occur [until] next year”. (Source RBA Media Release)
With the cash rate now likely to remain unchanged for some months and lenders continuing to compete on price, key industry sources predict that the property market will continue its recent strong run. (Source Tim Lawless Head of Rismark Research)
In the past several months, homeowners have enjoyed the lowest cash rate of this generation with lenders now dropping fixed interest rates to 20-year lows.
Perhaps a mix of variable & fixed rates is worthy of consideration, depending on your individual circumstances and requirements.
Why not give us a call today to see what we can do you for you!
Please remember that obtaining advice on what would work best for you is extremely important. It could literally save you thousands.
As always, please feel free to call us at any time if you wish to review your current finances.
Adrian Rogers - Director / MFAA Credit Adviser
Peter Cleary - MFAA Credit Adviser
Until next time...