At its April meeting, the Reserve Bank of Australia decided to keep the official cash rate on hold at 1.5 per cent.
What this means for you?
Last month we saw lenders adjusting rates outside of RBA movements, due to their own increasing costs of borrowing and investment appetite. Despite some upward movement in recent weeks, interest rates remain low.
The housing market across the country is as varied as the autumn colours. In some markets, conditions are strong and prices are rising swiftly, particularly in Melbourne and Sydney, while in others, like Perth, prices are somewhat stagnant.
In recent months, investment borrowing for housing has picked up. However, growth in rents is the slowest it’s been for two decades.
For expert advice about how these changes may affect your home loan or investment properties, we recommend you call Troy Starcevich from InterPrac Finance on 1800 700 666 or email firstname.lastname@example.org
We can help you choose the right loan for your needs and goals.