RBA Hold Interest Rates
It's a great start to the autumn property season for home buyers and investors. Despite a great deal of speculation from market analysts regarding consecutive interest rate cuts, the RBA has elected to keep the cash rate on hold in its monthly meeting today.
In February we saw the first cut in 18 months, with the RBA reducing rates to another historical low. Home owners have been enjoying an extended period of low interest rates providing a great deal of stimulation to our property markets during 2014.
According to market analysts, economic indicators should influence the RBA to lower the cash rate even further in the first half of 2015, with many predicting we will see another cut on or before the May board meeting. This will be a great stimulus for our property markets and we can look forward to news of even lower interest rates to fuel market activity during the autumn selling season.
With rates at an all-time low, and with the prospect of even lower interest rates on the horizon, borrowers can expect a very competitive 2015 loan market and some great special offers from lenders. If you're thinking of investing in property this year, purchasing a new home or refinancing your current mortgage, now is a great time to come in for a chat. Getting pre-approval on your financing is a great way to give yourself an advantage when you're looking to buy, so give us a call today.