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Interest Rates Remain at 1.75%

7 Jun 2016 Christies Beach 0 Comment

Photo by Simon Cunningham

Photo by Simon Cunningham

Some of you may have been wondering what would happen with interest rates after they were previous lowered to 1.75%. A statement by Glenn Stevens, Governor, Monetary Policy Decision has now been released stating that the cash rate would remain at 1.75%.

The statement says “Indications are that the effects of supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Dwelling prices have begun to rise again recently. But considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities.”

For some of you this may be a good time to make extra payments on your mortgage, if you are in a position to do so. Speak to one of our Finance Consultants at Professionals Home Loans to find out what options are available to you. We have also had a number of clients conduct a “health check” with our Finance Consultants to determine that their current mortgage arrangements are the best available product for their needs.

If you wish to arrange an appointment please contact Melissa or Kevin on 08 8382 3773 and we’ll take it from there.

 

 

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Interest Rates Remain at 1.75%

07/06/2016

Authors: Melissa Chaplin and Kevin J. Barry

 

 

 

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