The Reserve Bank of Australia met yesterday for its first meeting of 2015 and has decided to cut the official cash rate by 25 basis points to just 2.25 per cent.
This decision will bring the cash rate to a new historical low, after rate cuts in August 2013 brought the official cash rate to its lowest level in over 50 years. This has created an extended period of low interest rates and in 2014 we saw a very hot property market as a result.
With the prospect of even lower interest rates on the horizon, we can expect the autumn selling season to be running hot. Borrowers can look forward to a very competitive 2015 loan market, with some great special offers from lenders and some of the lowest interest rates on record.
Now is a great time to chat with us to see how you could be taking advantage of low interest rates to get ahead. We’re here to help you find the most suitable loan option to meet your financial goals, so why not give us a call today?
