02/11/2021
The Reserve Bank of Australia (RBA) has just released its decision to keep Australia's interest rate on hold at the record-low level of 0.1 per cent. Although the cash rate will stay low, RBA mentioned in its statement that “The Bank welcomes APRA's recent decision to increase the interest rate serviceability buffer on home loans. It is important that lending standards are maintained at a time of historically low interest rates.”
From recent interactions, our lending team heard from a few lenders that they might consider slightly increasing their fixed interest rates for home loans/investment property loans.
Please feel free to give us a call on 02 6102 4333 or email us at [email protected] to discuss the best way to organize your mortgage.
If you are interested in reading the full release from Reserve Bank of Australia, please click the link below.