RBA April Announcement – Cash Rate Unchanged

7 April 2015

Reserve Bank

Well, we hope you had a fun and restful long weekend.

It’s that time of year again with the Footy season kicking off and Easter school holidays already upon us. Hard to believe we are a quarter of the way into the year already!

The Reserve Bank board met today, and although interest rates are widely tipped to drop again this year, at today’s monthly meeting the Reserve Bank chose to take a watch and see approach to the economy and held the interest rates as they are.

Experts are indicating the RBA is still judging the impact of its 0.25 per cent rate cut in February, but are still expecting the Reserve Bank to cut rates again in the first half of this year.

We would also like to point out that while current interest rates are low, smaller lenders are tending to hold more sway in the finance market. This means homeowners have a golden opportunity to secure a low home loan rate and get stuck into paying off their mortgages sooner.

There’s currently a real gap between the best rates on the market and those offered by the big four, with a gap almost at 1% in many cases, which will make a huge difference in the short and long term savings.

We are seeing a lot of people are switching from major lenders to small lenders, so please call if you wish to quickly review your options.

Till next month, enjoy the easing of the humid weather and keep smiling.

Brent and Lainie

Kelly Wealth Lending Services

 

 

 

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