As lenders continue with their out of cycle rate increases, at its board meeting today the Reserve Bank of Australia decided to leave the official cash rate unchanged.
This follows new data released yesterday that indicates the strong Sydney and Melbourne property markets may be close to peaking following APRA’s intervention into the levels of interest only and investment lending the banks are funding.
It also appears the Reserve Bank is waiting to gauge the impact of next Tuesday’s federal budget on overall economic sentiment.
Regardless of whether rates move up, down or stay the same, our role remains unchanged. We’re always on hand to ensure you still have the right financial solution for your current circumstances.
If you’re concerned about your current mortgage or would simply like to get a second opinion, please do not hesitate to contact us for a complimentary home loan health check.