At its March meeting today, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 per cent.
This is now the 17th consecutive month the RBA have opted to leave the cash rate steady. We can expect this trend to continue, with most analysts predicting no change to the official rate this year.
Even though we’re seeing no movement on the official cash rate, lenders are making their own rate adjustments, especially now the busy Autumn selling season has arrived. If you’d like us to check the market for a more competitive interest rate, please give us a call.
There are record numbers of properties up for auction this Autumn! If you’re in the market to make a purchase, call us now to assess your borrowing power and get pre-approval on your loan.