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Interest rates

Interest rates are at record lows but they won’t stay this low forever. Now might be an ideal time to shop around and lock in a low rate. Staying up to date with current interest rates and the latest RBA decision can help you decide whether your home loan is still right for you.


Our top five interest rates available


Lender
Interest
Rate
Comparison
Rate

Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

Lender
Interest
Rate
Comparison
Rate

Credit criteria, conditions, fees and charges apply. Subject to suitability. The comparison rates in this table are based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

Latest RBA cash rate decision

April 2018

Despite speculation about a possible rate rise, the official cash rate has once again been kept on hold at 1.5% by the RBA.

The decision was largely expected given the current economic landscape.

The Australian economy is performing well, experiencing continued employment growth and easing housing credit growth, particularly to investors.

The National Australia Bank’s Business Survey found that business conditions had recorded their highest level since the survey began in March 1997.

Further, data from CoreLogic found that dwelling values fell in six of the eight capital cities over the March quarter led by Sydney, which recorded a 1.7% drop in dwelling values. Hobart continues to record growth, with dwelling values rising 3.4% over the same period.

Abroad, the US federal reserve made the decision to lift the federal fund’s rate, marking the first time in seven years the RBA’s cash rate has been below the fed’s while global share markets experienced volatility amid fears of a global trade war.

These factors considered, support the Reserve Bank’s decision to hold the rate once more.

That being said, a number of factors support the idea that a rate rise is on the horizon.

 

Make the most of stable rates – and the current market conditions, to achieve your property goals. Call your local broker today for personalised advice.

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