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
CatiaA huge thank you to Justin for his outstanding service! Finding the perfect place was no easy task and it took a while, but Justin’s support made all the difference. He was always available, providing expert advice and guidance every step of the way. He ensured that I was prepared for the application process, leading to a smooth and successful outcome. I couldn’t have asked for a better experience, and I wholeheartedly recommend Justin. Thanks for helping with this important milestone for me and my little family.
Samuel & AngelinaWe’ve had the privilege of working with Justin throughout the purchase of our investment property and we’re so glad that we had him in the process.
Justin was patient, clear and extremely knowledgeable with recommending the best options for us, taking into account our every need and requirements.
Additionally we ran into a roadblock due to a previous loan setup, but Justin help us navigate it seamlessly, spending additional time to work with his network of lenders to find the best solution, while also ensuring that it set us up for future success.
Highly recommend that you reach out to Justin and his team as you can be assured that they’ll provide the best possible care and recommendation for you.
Kobus&WillemienJustin assisted us in buying our first house, in Australia, 10years ago. He just did it again with our second house. Same old story again… Always helpful, always available, always friendly. We didn’t had any stress, he just sorted it and came up with the best results to suit us. What a pleasure to work with. Thanks Justin, you just made it so easy.
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