Rates on hold: Good news for home building

Home owners may have been hoping for further cuts, but bubbling Melbourne and Sydney property prices and total household debt continue to put upward pressure on the cash rate.

While further cash rate cuts seem unlikely, the good news continues for building and construction, as lower mortgage rates continue to encourage new building activity. 

There has been a turnaround in the building market, which is encouraging for homeowners and those looking to build a new home. This turnaround was seen in the better-than-expected 0.7 percent increase in retail sector turnover last month, reported by the Australian Bureau of Statistics.

If you’d like to know your current interest rate options, whether you’re looking to buy your first home or refinance, use the Choice Home Loans online tools to calculate your repayments or chat to them directly at info@choiceloans.com.au or call 1300 2 CHOICE.

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