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RBA elects to drop the cash rate by 0.25%

Cash rate continues its descent to lowest rate in Australia’s history.

In what was one of the more contentious rate decisions of late, the RBA has
announced that the best course of action was to reduce the cash rate a further
0.25%.
This decision was less about offsetting negative economic trends, but to further
stimulate positive growth signs throughout Australia’s economy.
RBA Governor Glenn Stevens makes special mention of the favourable lending
environment:
“Low interest rates are acting to support borrowing and spending, and credit is
recording moderate growth overall, with stronger lending to businesses of late.
Growth in lending to the housing market has been steady over recent months.
Dwelling prices continue to rise strongly in Sydney, though trends have been
more varied in a number of other cities. ”
What does all this mean? With many predicting this to be the final rate cut of
2015, now is the time to consider whether your current loan is the right one for
you, right now.

Written by

Stephen Bonfield, the Managing Director, previously worked for one of Australia’s major home loan companies as an independent mortgage broker. Steve used this experience to set up his own mortgage broking company - a company that places customer needs at the forefront.

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