At its 3rd April meeting, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5%.
While the RBA decided to leave the official cash rate on hold for the 18th consecutive month, quite a few lenders raised their home loan interest rates last month – some by as much as 0.05% p.a.
Lenders quoted the rising cost of funding as the motivation for their upward rate adjustments.
If your home loan interest rate has risen recently, or you’d like us to check the market for a more competitive option, please get in touch on 0437 498 800.
P.S. If your colleagues, friends and family need help finding a more competitive rate for their home or investment loan, we’d love to help them too – please ask them to give us a call!