top of page
Amanda Varidel

RBA cash rate raised to 0.85%



The Reserve Bank today decided to increase the cash rate, by 0.50% to 0.85%.


The RBA has made the decision to increase rates primarily as a lever to return inflation to its target levels, which is currently sitting higher than target at 5.1%.


Wage growth is currently at 2.4%, which in real terms is -2.7% (inflation less wages growth). This means that Australian workers would be increasingly worse off if inflation is not reigned in.


Lenders can set rates independently of RBA movements and their responses to this rate hike may vary.


I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.


It never hurts to ask the question, so get in touch to review your options.


Call me on 1300 861 143 or email amanda@heart1stop.com


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.



9 views0 comments

Recent Posts

See All

Comentarios


bottom of page