Reserve Bank Decision October 2013

October 01, 2013
Alan Madden

Strong economy keeps cash rates on hold

Positive economic data has encouraged the Reserve Bank of Australia to leave the official cash rate on hold at 2.50 per cent again this month. Rising consumer sentiment, improving business confidence and increasing property prices have kept rates steady.Consumer sentiment & business confidence have both seen dramatic improvement over the last month, hitting levels not seen in recent times. While capital city dwelling values recorded 0.5% increase in August, contributing to a 7% increase since May 2012.The decision by the RBA to keep the cash rate on hold presents a great time to review your current home loan to make the most of the low interest rates on offer. It also presents the perfect opportunity to repay your home loan faster and look to achieve your next financial goal sooner.

If you would like to discuss how you can make the most of the rate hold and ensure your current home loan is truly suited to your needs, please call me to arrange a time on 0432281837

Posted in: Interest rates

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