With our busy autumn property market in full swing, The Reserve Bank of Australia met today for its April meeting and decided to keep the official cash rate on hold at 2.0 per cent.
Some forecasters were predicting that the RBA would cut rates today, in light of the rising Aussie dollar. However rates have remained on hold for the last ten RBA meetings and whilst their comments would indicate a further cut may be on the cards this year, the RBA looks likely to keep the cash rate on hold in the short term.
Interest rates remain very competitive, particularly for owner occupiers and those looking to refinance. We are also able to access some very competitive rates if you want to invest in property to build wealth for your future.
If you’re planning to purchase this autumn, then don’t hesitate to call us to discuss your plans. We’ll help you to get your financing in place so you’re in a great position to make your purchase.