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John Symond’s commentary: July RBA Rate Announcement

July 4, 2017 By John Symond Leave a Comment

July RBA Rate

The Reserve Bank continued to hold the cash rate at 1.5 per cent at its July meeting today, as the inflation and unemployment rates remain low, counter-balanced by continued growth in the Eastern Seaboard housing market.

While the RBA has found that broad economic activity continues to be strong, it noted a warning that the retail sales and household income growth remain sluggish.

The bank appears to be more concerned this month about the break-out property price growth. A drop in rates might stimulate this sector further, which points to rates remaining low in the foreseeable future.

However, while the cash rate will remain flat, lenders have lifted their rates across a range of loan types, particularly interest-only loans, so it is imperative that existing borrowers ensure they have the right loan for their needs. Your Aussie Mortgage Broker can help you with a free appointment at a time that suits your needs.

As this will be my last commentary on Reserve Bank interest rates announcements, I would like to thank you for your readership. James Symond, CEO of Aussie, is pleased to take over from next month.

Related posts:

July RBA RateDear John – is property still a good investment when prices are sky high? July RBA RateDear John – is there another rate cut coming? July RBA RateDear John – what are your predictions for the year ahead? July RBA RateJohn’s Outlook: June 2017

July 4, 2017 John SymondLeave a Comment 

Filed Under: Ask John Symond Tagged With: buying-property, housing-market, interest-rates

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About John Symond

John Symond is the Founder and Executive Chairman of Aussie. Widely credited with bringing competition to the Australian home lending industry, John forced the banks to drop their mortgage interest rates and lift their service levels. He is well known as a consumer champion, and is passionate about helping all Australians to achieve the dream of home ownership and be in a better financial position.

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