Video - Interest rate update - October 2014

October 08, 2014
Jason Coviello

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Sluggish consumer confidence and subdued property price growth has encouraged the Reserve Bank of Australia to leave the official cash rate on hold.

 

    • Consumer sentiment fell by 4.6 per cent in September.

 

    • Despite being virtually flat in September - dwelling values are now 9.3 per cent higher over the 12 months to the end of September, with every capital city recording an increase in dwelling values over this time. 

 

  • Auction clearance rates are continuing to beat the 70 per cent mark week after week.

 

Moving forward, we expect this positive housing data combined with the sluggish consumer sentiment will encourage the Reserve Bank to continue to leave rates on hold.

 

New data suggests the Australian economy is performing strongly – the property market continues to perform well and the Australian dollar has fallen significantly since the start of September, which will help to support Australia’s rebalancing act

 

As your local mortgage broker, we can offer you a free Home Loan Health Check which may help you find a home loan that is not only better suited to your needs, but much more competitively priced than your current home loan. You may find you are able to save hundreds, if not thousands of dollars a year simply by giving your home loan a health check.

 

If you would like to find out more fel free to contact Peter Hale at peter.hale@mortgagechoice.com.au, or call 0402 252 150.  


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Posted in: Interest rates

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