Stable rates provide window of opportunity
Beaumaris Mortgage Choice broker Andrew Kerr reviews the upside of stable rates.
I suspect many Beaumaris mortgage customers were hoping the Reserve Bank of Australia (RBA) would cut the official cash rate at its March Board meeting - but it wasn’t to be.
Rising business sentiment and healthy demand for home loans saw the RBA leave rates on hold for the month. And that’s not a bad thing.
Stable rates are a sign of ongoing strength in the Australian economy.
Great news for Beaumaris home owners
The latest Monthly Business Survey conducted by National Australia Bank found business confidence rose for the first time in four months.
Government figures show home loan approvals are climbing too. In addition, consumer confidence surveys show optimists outnumber pessimists.
Your Beaumaris Mortgage Choice team is among the optimists. We believe the RBA could leave the cash rate on hold for the foreseeable future.
That’s especially welcome news for first home buyers hoping to secure a Bayside home loan.
Check your current loan
It is not just potential home buyers who can benefit from the today’s market conditions.
Competition between lenders is intense and there are some outstanding home loan deals available.
I encourage all Bayside mortgage holders to review their current home loan – check if it’s still competitive in terms of cost, and that it continues to offer the features you need.
If your current loan isn’t up to scratch, there’s a good chance you could secure a more suitable loan.
If you’d like to learn more about your Beaumaris home loan options, pop into Mortgage Choice Beaumaris. You can find us at 4 East Concourse, Beaumaris. Or call us on 9589 1329 at any time.
Be sure to share our blog on Facebook and let others join the conversation.