[frame_right]
[/frame_right]For the first time in over 2 years, the Reserve Bank has decreased the interest rates by 0.25%
This will be a great weight off the shoulders for homeowners and lenders. It appears that the RBA is warming to the current financial environment we are in, and is starting to accept that inflation is currently higher than the initial estimates. The inflation is starting to plateau after earlier weather events this year, and the strong Australian dollar has seemed to assist this.
Since the announcement, the Commonwealth Bank and Westpac have released they will pass on the full cut to their customers, with the other banks still to reveal their intentions. If you look at all the recent media hype, it has mainly been the banks spruiking a rate decrease. This decrease will most likely do two things: firstly create greater consumer confidence to start spending again which is great timing just before Christmas, secondly allow the banks to review current specials where I would anticipate for them to start coming to an end.
So if you haven’t taken advantage of the current great discounts being offered of up to 1.00% off the standard variable rate, then your time might be running out. These specials are on offer by various lenders who all have different criteria to be met.
Please contact me if you would like to discuss your situation and availability of these specials.
[/frame_right]For the first time in over 2 years, the Reserve Bank has decreased the interest rates by 0.25%
This will be a great weight off the shoulders for homeowners and lenders. It appears that the RBA is warming to the current financial environment we are in, and is starting to accept that inflation is currently higher than the initial estimates. The inflation is starting to plateau after earlier weather events this year, and the strong Australian dollar has seemed to assist this.
Since the announcement, the Commonwealth Bank and Westpac have released they will pass on the full cut to their customers, with the other banks still to reveal their intentions. If you look at all the recent media hype, it has mainly been the banks spruiking a rate decrease. This decrease will most likely do two things: firstly create greater consumer confidence to start spending again which is great timing just before Christmas, secondly allow the banks to review current specials where I would anticipate for them to start coming to an end.
So if you haven’t taken advantage of the current great discounts being offered of up to 1.00% off the standard variable rate, then your time might be running out. These specials are on offer by various lenders who all have different criteria to be met.
Please contact me if you would like to discuss your situation and availability of these specials.
