The Reserve Bank left the cash rate on hold in October for the 14th consecutive month at 1.5 per cent, despite economic signs improving across a range of sectors.
Australia has recently seen the strongest jobs growth since 1978, with non-mining investment growing 2.6 per cent.
The RBA expects economic growth to continue over the next year with business conditions buoyant and residential construction activity remaining at a high level.
Household debt remains a concern to the RBA as it is affecting retail spending patterns – a major sector of the economy.
Many borrowers are finding relief from their debt burdens by shopping around for a more reasonable deal, simply by seeing an Aussie mortgage broker for an obligation free meeting at one of our 200 stores across Australia.
It is time well spent to ensure your debt level remains under control, as at some stage in the future rates will rise.