Rate relief – RBA leaves interest rates on hold
The Reserve Bank of Australia (RBA) knows what every potential new home buyer, first home buyer and any mortgage holder really wants – and they’ve delivered it by leaving interest rates on hold.
Despite a booming resources sector putting pressure on our cash rate, Australia’s retail spending is still very weak, which when coupled with the financial strain being felt across the United States and Europe, has prompted the RBA to leave rates on hold.
There has been plenty of speculation about what the RBA would do with the official cash rate, however, our last rate rise was in November 2010.
Given the status of the Australian economy and the world’s finances, the experts at Choice Home Loans believe interest rates will remain on hold throughout 2011, making now a great time to consider your move into the property market.
To speak to a qualified professional at Choice Home Loans, contact them direct email@example.com or call 1300 2 CHOICE
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