Chief Customer Officer of Aussie, Mr David Smith, said today’s RBA cash rate cut to 1 per cent confirms the economy is slowing.
He said “We haven’t seen back-to-back rate cuts from the RBA since 2012, and this time around it’s a move designed to support the jobs market and keep Australia on track for growth. The RBA is clearly conscious of the need to keep the economy ticking over in view of both local and overseas conditions.
“Home owners should now know how their lender responded to the June rate cut, and all eyes will now be firmly back on our banks and lenders as they regroup to respond to a second rate cut in as many months.
“While lenders decide how much they pass on to customers, the real power today sits with borrowers, who should get in touch with their mortgage broker or lender and check they still have a competitive deal. With Australia’s cash rate at a new record low, there has never been a better time to strike a great home loan deal.”
For more information or to make a free appointment with an Aussie Broker, visit www.aussie.com.au.