March interest rate market update
The Reserve Bank of Australia (RBA) has announced that they’re leaving interest rates on hold at 2% for the tenth month in a row. This decision was widely expected as all economic data points
towards a stable economy that isn’t need of either stimulus or slowing down. The RBA has commented that if data shows a slowdown over the coming months, they have the capacity for rate cuts. However for now, they believe things are stable. Accordingly, we expect that most banks will leave their rates on hold for now, however competition in the discounted rate market remains high.
The below graph shows the trend and differences between the bank’s advertised interest rates, the actual rate paid by borrowers and the RBA cash rate.
Speak to our team today to see how you can achieve your financial goals.
One of our mortgage brokers will contact you to discuss the following:
- Get to know your financial objectives
- Help you to understand your borrowing capacity
- Take you through how we can assist you with your finances
We look forward to hearing from you – please enter your details and we’ll be in touch shortly