At their Board meeting, the Reserve Bank judged it was prudent to leave the cash rate on hold yet again, with recent data indicating the economy is tracking along quite nicely.
According to the latest data from the Westpac Melbourne Institute of Consumer Sentiment, confidence improved last month, climbing 1.9 per cent in July.
In addition, National Australia Bank’s latest Monthly Business Survey found business confidence recorded an unexpected increase, while data from the Australian Bureau of Statistics showed retail sales enjoyed a solid lift - increasing 0.6 per cent.
Further, recent research conducted by RP Data found dwelling values across the combined capital cities climbed 1.1 per cent higher over the last three months.
As your local mortgage broker, I can offer you a free home loan Health Check which may help you find a home loan that is not only better suited to your needs, but much more competitively priced than your current home loan. You may find you are able to save hundreds, if not thousands of dollars a year simply by giving your home loan a health check.
For a free home loan Health Check, or to discover how you can take advantage of the low rate environment, please call me to arrange a time to meet.