As you would have heard by now, the Reserve Bank of Australia (RBA) has left official interest rates on hold for now. Rates have not moved from their record lows since August 2016. The RBA will keep an eye on the housing market as emerging signs reveal prices may have slowed.
The above stance is a wait and see approach as latest economic data remains mixed with unemployment still at 5.9% but inflation has tipped over 2.0% despite retail spending falling. Inflation is still within the RBA's range of 2.0% - 3.0%.
As the Prudential Regulation Authority continues to put pressure on banks, mortgage rates on investment lending increased to restrict residential investors. However, in saying that, lenders on my panel (over 20 lenders) are still offering competitive rates which could save you money on your current or new investment property loan.
Contact me for professional home loan advice on 02 9525 0112.