Interest Rate Update
Since the election this year there have been two interest rate changes, a new prime minister and the banks have lowered their assessment rates.
August is the first month where things appear to have stabilised. This is true for todays RBA announcement with the RBA deciding to keep the cash rate on hold at the historical low of 1%.
Many economists will tell you that a lower cash rate is a reflection of the lack of business confidence in our economy. So whilst those of us with Home Loans would like to see our minimum monthly reduce as much as possible, it can be a double edge sword.
So to close on that, no changes this month (August) to the cash rate.
A reminder that there are some amazing fixed rates on the market below 3% with some lenders already pricing in 1-2 more rate cuts. And anyone with a variable rate mortgage with P&I repayments should have an interest rate with a 3 in front of it. If you don’t, please reach out.
unds nice, it is probably not the most financially sensible thing to do
ShannonJustin was brilliant to have as an broker. He worked with my schedule and got everything organised with good counsel and assisted with resolving any issues, and where he wasn’t able to personally, pointed me in exactly the right direction to work the issue, myself. Absolutely will be utilising his services again in the future.
Ilse & Dave HawkinsJustin guided us from start to finish with our refinancing process, and was able to get the lowest possible interest rate. He kept us informed and made it a simple and quick. Justin was a pleasure to deal with! Thank you Justin!
Dan & Lisa DuncanWe have worked with Justin to refinance our house and an investment property.
We had some complexities that Justin guided us through. He achieved a better rate and structure for us than we had dealing directly with the CBA.I have worked with other brokers over the years, but none as responsive, knowledgeable, and easy to work with. Thanks mate!
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