After a long-awaited hold decision was handed down last month (after 10 consecutive rate rises), the Reserve Bank of Australia Board has changed tack yet again by deciding to increase the cash rate today, this time by 25 basis points, making the official cash rate 3.85%.
This is not the news Australian homeowners were hoping for, as those with variable rate home loans prepare for lenders to pass on yet another interest rate hike. Whilst this is a trying time for many, don’t forget that our team of mortgage brokers are on hand to help.
Whether you’d like to shop around for a different loan, request a rate review or chat about your borrowing capacity, our team can guide you through these processes and potentially help to lessen your financial load.
So why not reach out to your local MoneyQuest mortgage broker today.
Disclaimer:
This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).
Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.
Proudly Part Of
The Money Quest Group (MQG) is one of Australia's leading boutique mortgage broking businesses, with a network of more than 600 brokers nationwide. Known for their exuberant culture and superior support, MQG provides brokers access to a range of financial products from more than 60 lending institutions and suppliers, and exclusive access to in-house benefits and services.
© 2017-2024 MoneyQuest Australia Pty Ltd, Australian Credit Licence 487823