At its March meeting, the Reserve Bank of Australia elected to keep the official cash rate on hold at 1.5 per cent. What this means for you?
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 on property investment lending imposed by APRA last year.
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. 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.