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Breaking News - Interest Rate Update


The cash rate decision for March has been announced by the RBA with a rate cut.


The RBA has reduced the cash rate to a new record low of 0.50% in response to the economic threat posed by the coronavirus outbreak and bush fire crisis.


Whilst the Reserve Bank would have been encouraged by recent economic data confirming continued house price increases and business investment, the dangers to the economy posed by the virus and fires and fears of a recession left the RBA with little option but to reduce rates.


Here is a table showing how Australia's average mortgage sizes may be affected:


Lenders continue to review rates independently of the RBA with some already making reductions in anticipation of the RBA decision. It is therefore important to review your lending options regularly to ensure they remain the most suitable for your situation.


There may be different rates available from our wide panel of lenders and I'm always available to ensure you have the right financial solution for your current and future circumstances.


If you'd like to have a chat about what today's news means for you and your finances, please don't hesitate to get in touch.


USING A MORTGAGE BROKER IS A SMART WAY TO GO


We provide real choice, looking to find you the right deal


We work with multiple lenders, keeping competition alive


We may negotiate a better outcome


We help at a time and place that suits you


We do the legwork for you



Your Choice Mortgage Brokers Pty Ltd atf Halo Innovation Trust trading as Heart Mortgage Services - Australian Credit Licence 38643.

The information contained herein is of a general nature only and does not constitute advice. You should not act on any information without considering your personal needs, circumstances and objectives. We recommend you obtain professional financial advice specific to your circumstances. The views expressed here are not ours. While the information contained in this article may contain or be based on information obtained from sources believed to be reliable, it may not have been independently verified. Where information contained in this publication contains material provided directly by third parties it is given in good faith and has been derived from sources believed to be accurate at its issue date.  To the maximum extent permitted by law: no guarantee, representation or warranty is given that any information or advice in this publication is complete, accurate, up to date or fit for any purpose; and no party or associated entities as mentioned is in any way liable to you (including for negligence) in respect of any reliance upon such information. This article may also contain links to websites operated by third parties who are not related to us. These links are provided for convenience only and do not represent any endorsement or approval by us.

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