The RBA has opted to leave the official cash rate on hold at 1.5%.
As widely predicted the RBA has kept rates on hold as it continues to look for the balance between containing house price growth and managing below target inflation levels, record low wages growth and slow economic growth.
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Even though the official cash rate has remained unchanged, lenders can move their rates independently, so you may see a change to your rate.
That depends on who you speak with, there are a number of different views. Inflation plays a big part in these decisions so keep an eye on that. If economic growth indicators in our country are sluggish the pressure will be to cut; however, foreign policy and our relative dollar value can have the opposite effect.
That all depends on your individual circumstances and preferences. Working with a mortgage adviser can be very helpful in making that type of a decision for a number of reasons:
Of course, our lending team are across all of these changes as they occur. We are always happy to speak to you at any time to ensure you still have the right financial solution for your current circumstances. Learn more about our work.
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