RBA Rates On Hold
At its first meeting for 2018 on Tuesday, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 percent. What does this mean for interest rates?
- With the latest Australian Bureau of Statistics’ consumer price inflation (CPI) report coming in below expectations last week, few analysts think the economy will improve enough to see any interest rate increases from the RBA this year.
- According to some analysts, the RBA won’t increase rates until the inflation rate has gone up quite a bit — probably not until June 2019.
- Some lenders cut rates on their fixed rate owner-occupier loans in January. There were also some very competitive deals released for principal and interest investment loans. Contact us if you’d like to know more.
With the RBA unlikely to make changes to the cash rate anytime soon, lenders will continue to make their own interest rate adjustments throughout the year. Please stay in touch and we’ll help you stay on top of any changes from your lender, or news from the property market in your area.
Here’s to 2018! If you’re in the market for a new loan; have had your home loan for a while; or would just like us to check your borrowing-power and rate, now is a great time to give us a call to get the ball rolling. If your family, friends and colleagues could benefit from our advice, we’d love to help them too.
Best Regards,
Ph 07 3391 7055
Jason Cook, Director
Presidio Finance Consulting, Level 1, 32 Logan Rd, Woolloongabba Qld 4102 PO Box 1186, Coorparoo DC Q 4151
Presidio Finance Consulting Pty Ltd ABN 51 128 973 508 holds individual memberships with the Mortgage & Finance Association of Australia (MFAA); and holds an Australian Credit Licence number, 391109. The information contained in this email is general, and does not take your individual financial situation into consideration. Your full financial situation would need to be reviewed prior to acceptance of any offer or product. Rates are supplied by various lenders and mortgage managers. Connective and Presidio Finance Consulting Pty Ltd takes no further responsibility for their accuracy. All rates are indicative annual rates only, and are subject to change without notice. Rates for residential loans only. Nothing in this sheet states or implies that any credit is available. Other fees and charges may apply. Unless specifically indicated, this email does not constitute formal advice or commitment by the sender of Presidio Finance Consulting Pty Ltd.
As always, we would be very happy to assist any of your family, friends or colleagues — please send them to us for a no-obligation consultation.
