Category: Rates
Rate cut provides Christmas relief for property buyers and mortgage holders
At its December meeting held in Sydney last week, the Reserve Bank of Australia elected to cut the official cash rate by 25 basis points to 4.25 per cent. This was the second consecutive cut to rates made by the Reserve Bank, after a year of keeping rates on hold at 4.75 per cent.
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Interest rates on hold for October, but a cut may be on the cards
Last week saw the Reserve Bank of Australia elect to keep the official cash rate on hold at 4.75 per cent. This was the tenth consecutive month that the decision has been made to keep rates steady. Despite this prolonged period of rates on hold, 2011 has certainly been a rollercoaster year in terms of interest rate predictions. Not long ago economic conditions suggested that the only question regarding a move by the Reserve Bank to increase the official cash rate was not ‘if’...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
Rate rest continues for borrowers in August
Last week saw the Reserve Bank of Australia elect to keep the official cash rate on hold at 4.75 per cent for the eight consecutive meeting, a move which no doubt had home owners and prospective buyers sighing in relief. I am hopeful that the move will help to provide some stability for home buyers and investors in what is otherwise a time of economic uncertainty. While rates have been steady for some time now, it was quite possibly this decision that...Read complete post
Break continues for borrowers as rates kept on hold for July
It was good news for mortgage holders and home buyers last week as the Reserve Bank of Australia elected to keep interest rates on hold at 4.75 per cent for the seventh consecutive meeting – the longest period over which rates have been kept steady in four years. The decision saw the Reserve Bank renege slightly on the growth expectations for the Australian economy that it has purported in previous months, with Governor Glenn Stevens noting in his...Read complete post