According to financial market pricing, the probability of the RBA cutting rates further is becoming more likely. Some Australian rate strategists are even predicting another rate cut in November this year.
The Autralian economy is lagging and comodity prices continue to to fall. Coupled with the uncertainty in Greece and China woes, the Australian GDP will experience downward pressure.
In the short term, there is a possibility that rates will drop another 0.25% this year but in the medium term rates are predicted to stay low for a lot longer than originally anticipated.
This is a great opportiunity to release some of the equity in your existing property or to refinance to a better deal. Call me to discuss your options.