INTEREST RATES REMAIN STEADY FOR ANOTHER MONTH. It is most probably no surprise that the Reserve Bank of Australia has decided to maintain the official cash rate at 2.5 per cent, as predicted by most market analysts. Maintaining the current cash rate is in line with the RBAs intention to create a period of stability on interest rates. The new financial year usually heralds a slowdown in the Australian property market for the winter months. The period of stability on interest rates, however, has created a lot of activity in the housing market, with auction numbers in most capital cities remaining high throughout June. Analysts advise that the continuing property market activity is being led by investors taking advantage of the low interest rate environment to boost portfolios. The high numbers of properties remaining on the market during this traditionally quiet time of year, however, means there are plenty of opportunities for folk wishing to make a purchase. The loan market remains very competitive, with many lenders still introducing low fixed rates and great options for variable rates. First home buyers, as well as those looking to refinance and invest, can expect some great deals ahead of the predicted interest rate rise later this year or early next year. Cheers, Graeme Mills.
Posted on: Tue, 01 Jul 2014 05:20:36 +0000
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