RBA Holds Rates, Will Your Lender? Blog article
RBA Holds Rates, But Will Your Lender?
At its March meeting, the Reserve Bank of Australia elected to keep the official cash rate on hold at 1.5 per cent. However, changes are happening in the market:
- Borrowers should continue to expect rate adjustments from lenders outside of RBA movements due to their own increasing costs of borrowing.
- Property investors are facing tougher criteria from some lenders, particularly on Interest Only loan products and refinances, due to controls imposed by APRA.
- While our stormy summer didn’t hamper an early start to the property season in our eastern states, where auction numbers reached record levels in February, market conditions varied considerably in other areas, creating a two-speed property market.
For more information on how these developments may affect your home loan or property purchasing plans, please give us a call on 03 9686 4976 or email info@choicecapital.com.au.
We have access to hundreds of loan products from Australia’s leading lenders and are ready to help you choose the right one for your needs and goals. We’re also happy to assist your family, friends and colleagues, so please do not hesitate to pass on our details.
Nov
Our Managing Director, James Taylor's overview of the last financial quarter, and forecast for interest rates, property and financial markets.
READ MORE >
Jul
The RBA has kicked off the New Financial Year with another rate cut - Will your lender pass on the full savings?
READ MORE >
Sep
The RBA may have held the official cash rate at the first spring meeting, but interest rate changes continue in the home loan market:
READ MORE >
Dec
The RBA decided to keep the official cash rate on hold at 2.0% today, but what's to come?
READ MORE >
May
Yesterday the Reserve Bank dropped interest rates by 0.25% to a record low 1.75%, but what's next? James Taylor gives us his view here...
READ MORE >
Mar
What's actually happening out there? As we near the end of the first quarter of 2016 (yes already!) James Taylor shares his professional overview of the current economic conditions.
READ MORE >
Feb
The Reserve Bank of Australia didn't move the official cash rate at the first meeting of 2017. Meanwhile, many lenders have been adjusting their interest rates outside of RBA movements this summer.
READ MORE >
Jun
Learn why banks are raising rates outside of the RBA's decisions on interest only loans. Should you switch to principle & interest repayments?
READ MORE >
Jun
At its June meeting today, the Reserve Bank of Australia (RBA) cut the official cash rate to just 1.25% - the lowest level in Australian history.
READ MORE >
May
At its May meeting, the Reserve Bank of Australia elected to keep the official cash rate on hold at 1.5 per cent. However, Australian lenders are still increasing rates to keep in line with APRA's new lending rules...
READ MORE >