Hope you’re well and enjoying the first few days of Spring. As expected, the Reserve Bank of Australia met this afternoon and left official interest rates on hold. Given they only dropped rates last month, it’s common for them to wait and see the economic impact of the previous cut before making any further changes.
More importantly for you, click here to see how each of our major lenders passed on the cut on the last month – http://www.acceptancefinance.com.au/august-rate-cut-summary/ .
Keeping track of your home loan rate (and how it compares to the market) is a tough exercise given how each bank has a different standard variable rate, and their discounts and promotion offers are constantly changing. To make your life easier, if we haven’t spoken in the last couple of years and looked your loan product and interest rate, it’s going to be worth your time giving me a call for a quick review. I’m here to ensure you aren’t paying above the odds, so feel free to make the most of my services.
For those of you interested, today’s RBA meeting marks the end of Glenn Stevens tenure as the RBA’s Governor. He has chaired 109 monthly meeting, increased rates 12 times, dropped rates 18 times, but most importantly, there have been no recessions during his leadership.
Until next time, stay well and talk soon.
Lainie and the KW Lending Team
