What a way to kick off the new financial year!
The Reserve Bank of Australia (RBA) has once again held the official cash rate steady at 1.5%.
With the cash rate of 1.5% approaching its second anniversary, homeowners can celebrate the start of the new financial year free from immediate concerns about rising interest rates.
In fact, a stable cash rate is good news all round. It’s a sign the RBA is comfortable with the way inflation, property markets and jobs growth are all shaping up.
The Aussie economy is looking healthy too, and while wage growth is much needed, household spending is holding up well.
Property markets nationally have stabilised, though pockets of buoyant price growth remain in Tasmania and many regional areas. It’s great news for first home buyers, upgraders and investors particularly those outside our major cities.
Home loan market – lenders want your business
The start of a new financial year is a prime time to review your finances, and it’s definitely worth speaking to your Aussie Broker about a home loan health check. It’s a free appointment, but it can give you peace of mind that you’re heading into the next 12 months with the home loan that’s right for you.