What a win for spring property hunters and homeowners! The Reserve Bank of Australia (RBA) has slashed the official cash rate to a historic low of 0.75%.
Prior to the announcement, RBA Governor Philip Lowe had hinted at more cash rate cuts to come, following reductions in June and July. Governor Lowe said an extended period of low interest rates would be required to reduce unemployment and reach the inflation target.
Given the cash rate cut and the fact that lenders may pass on the reduction, now is the perfect opportunity to have us check whether you are getting a competitive deal. We’ve never seen such low rates before, so it’s worth exploring your options. Give your home loan a spring clean – get in touch today on 0437 498 800.
