Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

RBA rate announcement

The Reserve Bank of Australia has today announced the outcome of its fourth board meeting of the year.

As widely predicted, the RBA announced at 2.30pm today it will be keeping the cash rate on hold at 2.5 per cent.

“The ongoing low interest rate environment is likely to encourage higher levels of housing market activity which provides a fantastic multiplier for the Australian economy,” said RP Data’s national research director Tim Lawless.

Advertisement
Advertisement

“However we anticipate that natural affordability barriers and low rental yields will continue to dampen the exuberance that has been very much evident in Sydney and Melbourne.”

Despite a steady outlook for most of 2014, loan comparison website finder.com.au has warned home loan interest rates may still increase.

“Our monthly survey of leading experts suggests that it will be at least four months before we will see any movement to the cash rate by the Reserve Bank.

However, that doesn’t mean your variable home loan rate won’t change,” said finder.com.au’s Michelle Hutchinson.

“We found that five lenders increased their rates on seven home loans by up to 0.10 percentage points this year, including Citibank, Homeloans, HSBC, Loans.com.au and Westpac.

“We’ve also seen seven lenders drop 20 home loans this year by as much as 0.17 percentage points.”

RBA rate announcement
mortgagebusiness

Latest News

The chief executive of a major bank’s institutional arm has announced their retirement after more than 30 years in the sector. ...

The Reserve Bank governor is confident borrowers will manage higher mortgage repayments upon the expiry of deferral periods. ...

It would be “dangerously naive” to expect the operating environment to “go back to normal” once the COVID-19 crisis abates, APRA cha...

FROM THE WEB
podcast

LATEST PODCAST: Brokers continue to step up for clients

Do you expect COVID-19 to reduce or increase your business flows?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.