RBA announcement - November 2020

The RBA has dropped the official cash rate to a historic 0.1%

03 November 2020|2 minute read

couple looking at rates on laptop in cafe

Prior to the November announcement, the Reserve Bank of Australia (RBA) made two consecutive cuts to the official cash rate this year. The first cut, on 3 March 2020, was from 0.75 to 0.5%. This was followed by a second, out of cycle rate cut on 19 March 2020 from 0.5% to a record low 0.25%.

The November rate cut is welcome news for homebuyers looking to buy and a great reason for homeowners to refinance their home loan to a lower interest rate.

With some interest rates starting with a 2, now is a good time to speak to your local Aussie Broker.

We're currently reviewing our Aussie Home Loans' interest rates and we will provide you with an update as soon as we can.

What should I do if my lender hasn’t changed their rate?

If you think you could be getting a better deal, it’s a great idea to check in with your Aussie Broker to review your options, particularly if your circumstances have recently changed.

Aussie Brokers are available over the phone, by email or via a video chat to discuss your home loan and any potential savings you may be eligible for.

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