Interested in interest rates? Hold that thought.
If you’re interested in hearing about an interest rate cut or increase, you’ll have to hold that thought for another month as the Reserve Bank of Australia (RBA) has put rates on hold for the seventh consecutive month.
Our experts at Choice Home Loans have indicated that there won’t be any interest rate cuts or increases for another month, as the word on the street is that the RBA is quite happy with the government Monetary policy.
The general feeling being reported by the finance experts is that investors are now well and truly back in the market and banks are reducing their fixed rates. For example, after the RBA’s announcement, the NAB announced fixed rate reductions including a two year fixed rate of 4.84% - down 5 basis points and the cheapest it has been in 20 years.
It appears likely to become a trend (yah!) with the Big 4 banks and a sign that rates will remain low, if not lower than what they currently are.
Interest rates shouldn’t make you hold your breath every month though, so if you need advice on buying your first home or refinancing to feel more secure, chat to the professionals at Choice Home Loans today. Contact them at firstname.lastname@example.org or call 1300 2 CHOICE