03/08/2021
๐ฅ๐๐ ๐๐ป๐ป๐ผ๐๐ป๐ฐ๐ฒ๐ ๐ฅ๐ฎ๐๐ฒ๐ ๐ข๐ป ๐๐ผ๐น๐ฑ
Announced today for the eighth month straight, the RBA have maintained the cash rate target at 10 basis points.
And the commentary is consistent with recent months - The Reserve Bank of Australia Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. The central scenario for the economy is that this condition will not be met before 2024.
As many owner occupiers have refinanced or moved house to take advantage of the interest rates and cashback enticements on offer, there is now a high level of interest in investment properties. And the market has responded suitably, by offering investment loan rates almost on par with owner occupied rates.
Overall, interest rates from lenders remain very competitive, with:
๐ข๐๐ป๐ฒ๐ฟ ๐ข๐ฐ๐ฐ๐๐ฝ๐ถ๐ฒ๐ฑ loans starting at 1.84% p.a. * (1 year fixed rate, 2.63% p.a.* comparison rate), and
๐๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ loans starting at 2.44% p.a.* (2 year fixed rate, 2.83% p.a.* comparison rate).
If you would like to discuss your situation, and discover whether you are eligible to apply for a loan, send me a message!
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Lending criteria, fees, terms and conditions apply. All applications for credit are subject to further assessment by the nominated lender. These rates are subject to change at any time.
*Comparison rates are calculated on a loan amount of $150,000 for a term of 25 years. These rates are for secured lending only. Comparison rates for fixed interest only loans are based on an initial interest only period equal in length to the fixed period.
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