Santa visits mortgage holders early

It was speculated that there would be another interest rate cut today and it really has added some pre-Christmas cheer to many mortgage holders and potential new home buyers.

The Reserve Bank of Australia (RBA) made the first consecutive interest rate cut today since 2009, following a .25 per cent cut last month.

The additional .25 per cent interest rate cut today, combined with the previous rate cut means home owners with a $350,000 home loan will saving on average $119 per month or $1,428 per year.

The move comes as global financial uncertainty continues to play havoc on world economies and Housing Industry Association Senior Economist Harley Dale said the rate cut today was justified.

He hopes that Australian banks pass on the full rate cut to clients and so do we – and we’re sure you do to!

If you feel like your lender isn’t giving you a better deal, make sure you talk to a qualified professional at Choice Home Loans about your interest rate issues. You can contact them direct or call 1300 2 CHOICE

Has this interest rate made any changes for you?

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