Category: Interest Rates
Lower interest rates may spur property market
At its monthly meeting last week, the Reserve Bank of Australia elected to reduce the official cash rate by fifty basis points to 3.75 per cent. This decision was welcomed by CENTURY 21 and we expect that it will help to encourage growth in the national property market.
...Read complete post
Lowered inflation paves way for rate cut
Last week saw the Australian Bureau of Statistics release the Consumer Price Index for the September 2011 quarter. In good news for home owners and prospective borrowers, the measure, which serves as the official inflation data referred to by the Reserve Bank of Australia when setting the official cash rate, was unexpectedly low. The September quarter saw the CPI rise by 0.6 per cent, down from the 0.9 per cent rise seen in the June quarter 2011. Over the year to...Read complete post
Spring selling season starts on good note as interest rates are left on hold
I don’t think it surprised anybody when the Reserve Bank of Australia elected to keep September interest rates steady at 4.75 per cent last week. With heightened concerns for the global economy and continuing low consumer sentiment, an interest rate rise certainly seemed unlikely, and at this stage may not even be on the cards for another few months at least. Setting interest rates for September saw the Reserve Bank continue to monitor “very unsettled”...Read complete post
The RBA moves to keep interest rates steady
Australian mortgage holders had a win on Tuesday, with the Reserve Bank of Australia leaving interest rates on hold at 4.75 per cent – where they have been since the RBA last increased rates on Melbourne Cup Day in November 2010. The decision was not unsurprising given the substantial contraction seen in the economy over the March quarter – according to figures released by the Australian Bureau of Statistics, Australia’s gross domestic product dropped 1.2...Read complete post
Stay ahead of the rate game
We have covered the issue of interest rates fairly extensively in this blog. The last time the RBA lifted the official cash rate was in November 2010 and since then it almost feels as though we have been playing a waiting game, anticipating the next rate rise. While relief for mortgage holders has come month after month as the RBA moved to keep rates on hold at least up to now, it must be said that nobody likes to sit on their hands doing nothing. Although...Read complete post
Rates on hold for now, but an increase expected soon
Last week at its monthly meeting the Reserve Bank of Australia decided to keep the official cash rate on hold at 4.75 per cent. This decision is good news for the residential property market as it means that mortgage holders have at least another month without an increase to their repayments. Having said this, I do feel that buyers and home owners are going to need to prepare for a rate rise in the coming months. In his statement following the rate hold...Read complete post
RBA leaves rates on hold for the fourth consecutive metting
There was good news for the residential property market again last week as the Reserve Bank of Australia decided in its monthly meeting to leave the official cash rate on hold at 4.75 per cent. This means that all mortgage holders can rest assured that interest repayments will remain the same for another month at least. In his statement that accompanied the decision, RBA Governor Glenn Stevens referenced various factors that had influenced the Board’s...Read complete post
The RBA leaves interest rates on hold
At its meeting last week, the Reserve Bank of Australia decided to leave the official cash rate unchanged at 4.75 per cent. This choice is good news for the residential property market and will definitely help to ease the pressures felt by many Australian home owners and prospective buyers. From where we sit at CENTURY 21 Australia, this decision was the appropriate one for the RBA to make. Parts of our nation have recently been devastated by flooding, the...Read complete post