As widely expected, the RBA announced their decision to leave cash rate unchanged at 1.5%. This remains the lowest rate in the RBA's history. See the full Reserve Bank statement for their reasoning. Some experts are tipping a cut in November - let's see.
Does your mortgage and other borrowings reflect current low market rates and conditions? If not, read my recent blog on the Costs and Benefits of Refinancing .
Rates Survey - Results
My survey last month "Do you think interest rates can go any lower?" shows uncertainty amongst my clients. Roughly equal thirds of you answered "Yes", "No" and "Unsure". So the jury is out, which aligns with the experts' view.
As ever, please contact me if you would like to discuss your mortgage or other borrowings at any time. Cheers, Marvin Ph 03 9553 6354