WINTER IS COMING… JUNE RBA CASH RATE ANNOUNCEMENT

This year, June 1st happened to land on the first Tuesday of the month, which also marked the start of winter. So the beginning of the new season coincided with the Reserve Bank of Australia’s June cash rate announcement (FYI the cash rate was once again held at 0.1%).

So the cash rate and interest rates remain at historic lows, and winter is upon us. So what can home owners draw from all of this?

Well this change in season might be the perfect time to consider a change of home loan. Now might be the ideal time to refinance and potentially maximise your savings.

People generally refinance to access things like better interest rates, or additional loan features, and this can lead to significant savings which can be spent on things like:

  • Recreation – a much-needed holiday
  • Renovation – an upgrade of that 90s style bathroom
  • Relatives – setting your children up for the future

Booking in a home loan health check isn’t always front of mind, especially if things are ticking along nicely. But the reality is that there might be a home loan product out there that better suits your needs, that could put more money in your back pocket.

So why not use this change in season / mid-year mark as a reminder to chat with your local MoneyQuest mortgage broker about refinancing. Find out if it’s what you and your mortgage needs, today.

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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.