At its May meeting, the Reserve Bank of Australia chose to keep the official cash rate on hold at 1.5 per cent.
What this means for you?
Interest rates remain low, so it’s still a great time to invest in property or to purchase a home! Despite some lenders raising interest rates on both owner-occupier and investment loans in recent months, interest-only and investor loans remain cheaper than a year ago.
The debate about housing affordability, negative gearing, capital gains tax discounts and borrowing through Self-Managed Super Funds has dominated the news in recent months, and it will be interesting to see what the federal budget holds next week.
Interest rates are really on the move outside of the RBA’s decision, so now more than ever is the time to seek expert advice about your home loan or investment property. InterPrac’s mortgage division, can compare hundreds of different loan products to find you a competitive deal that suits your budget and financial goals. Please give Mandy Love from InterPrac a call today on 1800 700 666!