Cash rate stays anchored at 1.5%
Taking on a mortgage for 25 years can be daunting but there are ways to get ahead.
I’ve had a fixed loan for three years and in that time interest rates have come down a lot, so I am nervous about getting another fixed interest rate in case the same thing happens! What do you think?
The RBA is the Reserve Bank of Australia, Australia’s central bank which is broadly responsible for issuing our currency and ensuring financial stability for our nation.
In today’s highly competitive mortgage market, it’s definitely smart to ask your lender for a lower interest rate. After all, what’s the worst that can happen?
Since arriving in Darwin in January 2003 I’ve seen Darwin house prices boom. Some property experts say that property typically doubles every seven to ten years but until you actually see it happen, it always seems like such a bold prediction. Yet Darwin prices have more than doubled in that time.
Melbourne Cup Day 2010 will go down as a memorable day – and not just for the winning horse, Americain. The Reserve Bank of Australia’s decision to raise the official cash rate by 0.25 per cent to 4.75, and the Commonwealth Bank’s subsequent announcement that it would raise its rates a further 0.20 per cent over and above the RBA created shockwaves through the country.
Aussie has seen a surge in the number of customers looking to refinance their mortgages following the RBA’s rate rise and CBA’s 0.45 per cent hike announced on Melbourne Cup Day last week.
Home and apartment owners should be looking to refinance their loans to offset the higher costs to the mortgages caused by the Reserve Bank’s decision this week to lift cash rates by 0.25 per cent, according to the Executive Chairman of Aussie Home Loans, Mr John Symond.
John Symond talks to 2GB’s Ross Greenwood on interest rates from last night’s program. Listen now to the interview.