Interest Rate News
At its March meeting, the Reserve Bank of Australia (RBA) decided to keep the cash rate on hold at the historically low level of 0.10 per cent.
RBA Governor Philip Lowe said while the global economy was continuing to recover from the pandemic, the war in Ukraine was a major new source of uncertainty.
He said inflation had picked up quicker than expected, but the Board would not increase the cash rate until actual inflation was sustainably within the two to three per cent target range.
There is still speculation a rate rise could come in the second half of 2022 and banks have been lifting fixed mortgage rates for months, so now is the time to ensure you are getting a competitive deal.
If you would like some assistance reviewing your current loans, reach out to Dallas Shores, our in-house mortgage broker.
Passionate about property finance, Dallas can be contacted on 0437 498 800, 24 hours a day to assist you with your individual finance requirements, whether you are buying or looking to refinance.