MoneyQuest’s July Cash Rate Update
Happy new financial year everyone and welcome to this month’s cash rate update.
As expected, the Reserve Bank of Australia Board has decided to increase the cash rate for the third month in a row. It has been increased by 50 basis points and is now sitting at 1.35%.
Some of our clients are understandably feeling a little concerned about interest rates going up, particularly those who haven’t experienced rate rises before. Plus, the rising cost of living isn’t helping matters.
However, the good news is that our team of MoneyQuest mortgage brokers are on hand to help alleviate client concerns and put any recent changes into context. They can also check the suitability of your current loan, and can even help to review your discretionary spending.
The cash rate has gone up, but don’t let this get you down. Our brokers would love the opportunity to chat with you about improving your situation, so don’t hesitate to reach out for a fee-free consultation.
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