Rate hold reality boosts consumer confidence

Consumer confidence will be boosted thanks to the expected interest rate hold becoming a reality, as announced by the RBA.

The decision by the Reserve Bank of Australia (RBA) to leave the official cash rate on hold at 4.25% is by no means a surprise to the industry but it is good news for home owners and prospective home buyers.

The decision to hold rates was widely expected by the majority of economic commentators and it is a good indication to the broader public that Australia’s economic conditions have settled down, which will help restore and promote consumer confidence.

The only unknown element now is what the lenders will do with their standard variable interest rates after making the news last month by decoupling themselves from the RBA movements.

There is still a lot of talk about the cost of lender’s funding increasing, mainly due to the issues in Europe at the moment but if you want to talk through all your finance options then make sure you speak with a professional to hear the best advice for your situation.

If you’re looking for financial information, advice or more information on your mortgage or refinancing options, talk to Choice Home Loans today at info@choiceloans.com.au or call 1300 2 CHOICE

Do you think the big four will resist the RBA’s interest rate hold and make a move to their standard variable rates?

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