A strong rebound in consumer confidence has encouraged the Reserve Bank of Australia to leave the cash rate on hold today at 2.25%.
The good news for home owners however is that we've seen significant reductions in interest rates from most lenders following last months RBA announcement with interest rates currently sitting at historically low levels, making now the perfect time to review your current mortgage or to consider purchasing an investment property.
It's also interesting that it's not only variable rates that we've seen tumbling over the last month, but there are also some fantastic deals now available on fixed rates over 3 and 5 year terms with many of our customers taking the opportunity to lock in part or all their mortgages at these low fixed levels.
It is a great time to speak with your mortgage broker to review your circumstances and to see if we can find you a loan that is not only better suited to your needs, but much more competitively priced.
If you would like a free Home Loan Health Check or even a quick chat, please call don't hesitate to give us a call.
Attached is a link to today's RBA Announcement.