RBA December 2015
In its board meeting on Tuesday 1 December, the RBA elected to once again leave the cash rate on hold at 2.0%. This is good news for those with home and investment loans. The Governor of the RBA stated that while GDP growth was strong, it was largely export-based. This meant the Australian economy would still benefit from the support of low interest rates while it continued to gain strength away from the ailing mining sector.
In the last two to three months we have seen many lenders increase their rates in response to changing regulatory environments. This move by the RBA can give home owners some short term relief that at least, over the Christmas period we are unlikely to see any other further rate increases across the board with most lenders.
If you would like to chat about your options with your own home loan, feel free to contact us directly to discuss your personal situation and see if we can find a better rate and/or home loan for you.