February 2016 Cash Rate Decision

The Reserve Bank of Australia has kicked off its first Board meeting for the year with more cash rate stability. 

At today’s Board meeting, the Reserve Bank of Australia decided it was prudent to leave the official cash rate on hold, marking the ninth consecutive month that the cash rate has been left at 2%.

 While there is still scope for the Reserve Bank of Australia to cut the cash rate over the coming months, the trigger for an immediate cash rate cut was not there this month.

 Data from CoreLogic RP Data shows property values continue to climb fairly steadily across most capital cities, with values increasing 0.9% over the month of January. In addition, business confidence and conditions remain surprisingly robust, while underlying inflation remains within the Reserve Bank’s target band range.

 Regardless of what happens with the cash rate in the future, interest rates continue to hover around record lows, making now a good time to buy, invest or upgrade. Alternatively, if you aren’t happy with your current home loan provider or feel as though you could be getting a better deal, now is also a great time to review your home loan and make sure you are still in the right product for your needs.

 Whether you are buying for the first time or are looking to refinance, I can help you navigate the housing market and compare hundreds of home loan products to see if I can find you a loan that is not only competitively priced, but suited to your needs.

  

For further information, and to put yourself in the best position with valuable information and guidance, contact a trusted consultant from Mortgage Choice on 07 3286 7711.

Posted in: Interest rates

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