The
RBA has decided to keep the cash rate on hold today, meaning that
homeowners will have to face another month of interest rates at their
current levels. For many, this move has not come as a surprise as most
economists predicted that a rate cut was unlikely given the present
state of the economy.
Although
conditions have worsened somewhat with the recent sharp slide of the
Australian dollar, the move to reduce interest rates is viewed as a
last resort by the RBA with rates already at historically low levels.
Furthermore, the bank feels there is still room for results to
deteriorate before any further action is required.
Despite
interest rates remaining on hold, there is still ample opportunity for
you to take advantage of the current market, with lenders competing
harder than ever to secure your business. Speak with the Rates Direct
team today, to find out how you could join the hundreds of Australians
finding the best home loan deals in the market.
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