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RBA leaves cash rate unchanged

Potential and existing home loan borrowers will be cheering the Reserve Bank of Australia’s decision to keep our cash rate steady at 4.5% for a third consecutive month. It hasn’t remained stable for this length of time since the September quarter of last year.


Potential and existing home loan borrowers will be cheering the Reserve Bank of Australia's decision to keep our cash rate steady at 4.5% for a third consecutive month. It hasn't remained stable for this length of time since the September quarter of last year.

It is likely the rate will sit at 4.5% until at least the next round of CPI data is released, on 27 October. This will be a great relief for anyone repaying a variable interest home loan or approaching the end of their fixed rate term, just as it will be for those who are planning to buy a home soon.

Overall, the RBA's decision on interest rates should improve consumer and business sentiment, which is great news for everyone. The residential property market is a significant contributor to GDP; its strength is important to the health of our economy.

Useful links:
‘How long to repay' calculator
Talk to a broker
Home Loan Health Check

 

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