Once again, the RBA has held the cash rate at 1.5 per cent today as the economy continues to grow moderately, the inflation rate sits in its target range and unemployment remains steady.
There are signs the Eastern Seaboard housing market is cooling from its recent strong run, which is good news for those seeking to purchase properties.
The stricter rules on lending are having an impact, especially on investors who are finding it tougher to access traditional finance.
Despite the RBA’s decision, the cost of funds for both lenders and borrowers is rising, and the tighter lending rules and conditions will continue to impact the property market for months to come.
It is important that borrowers are comfortable with their loan repayments as rates could rise further outside of the regulatory decisions. If you need a home loan health check, your Aussie Mortgage Broker can help you at a free appointment.