MoneyQuest’s December 2023 Cash Rate Update – Rates on Hold Ahead of the Holidays

December is upon us which means the end of the calendar year is in sight!

The Reserve Bank of Australia Board held their final cash rate meeting for 2023 on Tuesday December 5, opting to leave the cash rate unchanged at 4.35% until at least February next year. This news will be warmly welcomed by homeowners after November’s nasty rate hike surprise.

Hopefully variable interest rates have now reached their peak and we see the first cash rate reduction since November 2020 at some stage in 2024.

In the interim, if you are concerned about your mortgage repayments or keen to learn more about your loan options, reach out to our team. If you’re new here and not sure how to get in touch, simply call 1300 886 100, or head to moneyquest.com.au and fill out the enquiry form. We are here to guide you every step of the way!

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