As widely expected the Reserve Bank held cash rates at 0.10% at its board meeting today.
All eyes will be on the minutes of the meeting to see if there has been any softening on the RBA’s stance that rates would not increase until 2024.
Since their June meeting there has been more positive economic information, including falling unemployment, despite the removal of job keeper, and an increase in business investment.
The Bank will also be taking into account data that shows lending for investment property continues to gain pace.
Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.
We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to contact us.