Introduction
They’re at it again. The RBA has raised the cash rate by 25 basis points to 4.35%. The banks will likely pass this on.
To make sure you’ve got a loan you can live with, consider speaking with us.
We may be able to help you access a better deal, whether it involves negotiating with your current lender or exploring competitive alternatives.
Get in touch for a no-strings conversation.
Transcript
0:00
Hi, everyone.
0:01
So apparently for the RB A yesterday all days was a good day for another cash rate hike.
0:07
In the midst of all the Melbourne Cup Day Fund.
0:09
The RB A ended the four steady and quiet months of zero increases by raising the interest rate by 25 basis points.
0:17
That means from 4.1%.
0:19
The cash rate is now 4.35% which is the highest it’s been in 12 years.
0:25
So with the current cash rate, a homeowner with a $500,000 mortgage can expect an additional 75 to $85 in their monthly repayments.
0:33
Crazy, I know, however, these increases no longer seem to surprise homeowners.
0:39
Many have already taken the smart move to refinance a few months back and have secured a much lower rate making them safe from the blows of future rate increases.
0:47
However, we’re not out of the woods yet.
0:50
The coming year end is not a guarantee that all these hikes will halt.
0:53
And even if it does just as we’ve experienced in the previous four months, remember that we’re still sitting now at 4.35%.
1:01
How many more months.
1:01
Do we need to wait for it to go down?
1:04
That’s if it will go down.
1:06
I’m sure you have lots of questions, whether you’re a homeowner or you’re yet to apply for a home loan.
1:10
These cash rate hikes affect you.
1:12
Please note that there are strategies that we can employ depending on your unique scenario.
1:17
L Street is here to help.
1:19
So reach out to us for a no strings conversation about your options.
1:23
Speak soon.
