19/05/2022
With so many recent stories, posts and media reporting about fixed and variable rates, we thought we’d share with you some insights on how the banks and lenders come up with these rates:
▪️The RBA cash rate is only an overnight rate
▪️If the cash rate goes up, it is likely that your mortgage interest rate will also increase
▪️Banks or lenders will want to pass on the increased cost of borrowing money to the end client
▪️Similarly, when the cash rate decreases, this puts pressure on the banks to lower the interest rates they offer
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Given the current climate, timing couldn’t have been more perfect for you to reach out and have a chat with our team to see if we can find something more suitable for you and your borrowings!
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