At its May meeting today, the Reserve Bank of Australia (RBA) decided to keep the official cash rate at 1.5% - despite speculation from economic analysts that there may be at least one, or possibly two RBA rate cuts by the end of this year. However, it seems the RBA has elected to wait until after the Federal Election before making any moves.
At its April meeting, the Reserve Bank of Australia (RBA) decided to keep the official cash rate at 1.5% - taking a ‘wait and see attitude’ before the Federal Budget was released at 7pm last evening.
I trust this email finds you keeping well.
Just wanted to wish each one of you a Happy Christmas Holiday Season and a Wonderful break leading into the New Year!
I'd also like to thank you very much for your support over the years and allowing me to be a part of your home journey. For all the word of mouth referrals, the success stories and achievements we shared together, I am honoured to be a part of those milestone moments with you.
And as always, I'll just be a message or phone call away, whenever you need help.
Take Care, Have Fun and Enjoy Every Moment with your loved ones.
With the kindest regards and best wishes,
As the holiday season rapidly approaches, the Reserve Bank of Australia (RBA) met today for its final meeting of 2018. As expected, they have elected to keep the official cash rate on hold at 1.5%, where it will remain until their next meeting in February 2019.
This is the 27th meeting in a row where the RBA has left rates unchanged. Comments from the RBA last month indicated they would wait to review this quarter’s economic data before considering a rate adjustment, and it seems likely that it will be some time away. Meanwhile, home values and auction clearance rates continue to cool in most markets – it could be a great time to find a suitable property if you’re looking to buy.
Until the next time, wishing you a wonderful week ahead and do take care.
At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.
As expected, the RBA kept the official cash rate on hold for the 25th month in a row at its October meeting. During September, a number of lenders made out-of-cycle rate rises to account for their increasing borrowing costs, so we expect home loan interest rates to remain relatively stable for the time being. Forecasters are predicting a mild downturn in home values in Melbourne and Sydney of around 5 - 10% this year but foresee all property markets returning to positive annual growth by the middle of 2019.
As expected once again, the Reserve Bank of Australia (RBA) decided to leave the official cash rate on hold at 1.5 per cent at their September meeting.
During August, Westpac raised home loan interest rates out-of-cycle and we expect other lenders to follow in the next few weeks. Auction clearance rates continued to weaken, and home values are stalling in most property markets. The recent interest rate rises are likely to cause these trends to continue during Spring, creating favourable conditions for buyers.
As expected, the Reserve Bank of Australia (RBA) decided to leave the official cash rate on hold at 1.5 per cent at their July meeting.
Next month (August) will bring us to a record breaking two-year period since the RBA moved on interest rates. Many Aussies are using this period to pay down their home loans.
As expected, the Reserve Bank of Australia (RBA) decided to leave the official cash rate on hold at 1.5 per cent at their June meeting today.
The RBA has not moved on rates since August 2016, with the objective of stimulating inflation, employment and wages growth through rate stability. However, the Organisation for Economic Cooperation and Development (OECD) is now forecasting official rates should gradually start to rise in late 2018, as these RBA measures start to take effect.
Meanwhile, local analysts are anticipating that lenders will soon start to raise rates outside of RBA movements, due to the rising costs of borrowing. Interbank lending rates (the rates that apply to Australian banks when lending money to each other) are on the rise and are likely to affect home loan interest rates across the board.
If you’re concerned about how this potential rise in rates may affect you, please give us a call.
Winter is here and action in our property markets is starting to slow. Auction clearance rates and home values are weakening, so conditions are currently favouring buyers. If you’re in the market for a new home or investment property, please get in touch now to arrange pre-approval on your loan.
At its May meeting today, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 per cent. Today’s decision makes it 21 months in a row where the RBA has decided to leave the cash rate on hold. It is also the longest period without a cash rate rise in the RBAs history!
Whilst the latest data indicates the economy is slowly improving, analysts predict the RBA will not raise rates anytime soon and no cash rate cuts are on the horizon at all.
Meanwhile, the autumn property market is going strong, with record auction numbers in many cities. Auction clearance rates are slightly down, which is an indication conditions could be moving in favour of property buyers.