In February, the Reserve Bank of Australia cut interest rates to 60-year lows, and economists remain divided over whether rates will fall further still
The trouble is, interest rate predictions are always wobbly at best. This was highlighted when an unexpected fall in unemployment figures in early January prompted many economists to revise their forecasts of lower rates.
While rate movements can be unpredictable, there are simple but important steps we can all take to manage swings in interest rates.
A sensible starting point is to contact us for a review of your home loan. A quick Home Loan Health Check can identify weak spots in your home loan management plan. You could benefit by refinancing to a new loan, or it may be time to consider splitting your loan between fixed and variable rates.
The main point is that by taking action now, you can rest assured that you have charted the course that is right for your circumstances – regardless of what happens to market interest rates.