Interest Rate CUT!

interest rate

The first announcement for 2015 was released on Tuesday and as you’ve surely heard by now, The Reserve Bank of Australia announced the outcome of its board meeting, and as speculated it decreased the cash rate by 25 basis points.

The official rate is now at 2.25%.

In taking this decision it appears the Reserve Bank has reacted to growing concerns around employment, flattening property prices, affordability for first home buyers and the lowering inflation figures. This decrease is likely to spark a fresh round of competition amongst lenders so it is a great time to borrow or review your current finance arrangements.

The benefit for mortgage holders and buyers is clear but seller’s will also benefit from the increased buyer activity the market is sure to see follow this latest rate cut.

If you’ve been thinking about buying or selling, speak to Wayne Heldt today about your specific requirements.

How does this impact the average mortgage holder? Here is a table showing how Australia’s average mortgage sizes may be affected:

table

Be sure to get in touch with Finance Specialist, Justin Murphy if you would like to discuss the current finance market in light of today’s announcement and how it may impact you.

Justin Murphy                  Ray Backhouse – Lifespan Financial Services

Contact details
Tel: 08 9340 9340 | Mob: 0433 192 167 | Fax: 08 9284 0534
Email: justin@raybackhouse.com.au
Web: www.raybackhouse.com.au