On the first day of Autumn, the Reserve Bank has left official interest rates on hold, no surprises there. Somewhat surprising are the growing number of experts who are now predicting the next interest rate move will be down. Whilst most major city property markets have remained strong despite fear of ‘property bubbles’, some experts believe the RBA may look to cut rates this year given poor global economic performance, wages growth remaining flat, company profits falling and inflation sitting below where the RBA would like to see it. Stay tuned.
Despite official rates remaining on hold, it doesn’t mean that the banks haven’t been trying to win over new customers. We are seeing great loan offers at the moment, including variable home loans from 4.10%, and variable investment loans from 4.37%. We’ve even seen fixed rates as low as 3.99% being offered by a few Lenders. If you haven’t reviewed your rates or product in a few years, now’s a great time to give me call for a quick comparison.
Last week our dealer group, Acceptance Finance, was awarded the Best Independent Mortgage Brokerage in Victoria (with over 5 brokers) at the Advisor Better Business Awards. We want to take this opportunity to thank you, because without our clients’ support, accolades like this aren’t possible.
If you haven’t reviewed your interest rate or home loan product in the last couple of years, it’s important to see what options are available to you. Please do not hesitate to contact us to discuss your finance needs.