No surprises with RBA rate announcement
No one likes surprises when it comes to their mortgage and for another month, home owners will enjoy a stable interest rate as the RBA decides no cut or raise – with the current Official Cash Rate unmoved at 3.50 per cent.
The move will provide peace of mind for many current home owners while the Reserve Bank of Australia (RBA) waits to see the full effects of interest rate cuts from earlier this year.
This month’s move came as no surprise to industry experts but what might surprise or excite you is that some industry experts are predicting a rate cut at the October or November RBA board meeting, especially as the mining sector softens and overall unemployment faces a slight increase.
If you are lucky enough to be in a new home, enjoy the confidence and stability of the interest rates and if you’re in the market for a new home – embrace the low rates and interest rate cuts while they’re available!
To find out more about your financial options, contact Choice Home Loans today at email@example.com or call 1300 2 CHOICE.
Do you think there will be an interest rate cut in October or November? How will it affect you and your home ownership?