May 04, 2016
Yesterday decision not only marks the first time in 12 months that the official cash rate has been cut, but it means the cash rate is now sitting at the new historical low of 1.75%.
Of course, while the Reserve Bank of Australia has decided to cut the official cash rate, that doesn’t mean to say Australia’s lenders will pass rate reductions onto their customers.
Over the coming days we will receive notice from our lenders whether they will pass on this rate reduction.
Now is a great time to review your current mortgage and make sure it fits your needs.