05/07/2022
For the third month in a row, the Reserve Bank of Australia (RBA) has increased the official cash rate, this time by a further 50 basis points to 1.35%, as it tries to curb inflation.
Todays decision could add further pressure, especially for those on variable loans or with fixed-term mortgages ending soon.
It is estimated that 40% of Australians have locked in low fixed rates and will roll off them in the next 6-12 months.
If you fall under one of these umbrellas, please know that we are here to help.
We are here to ensure your mortgage is still competitive and suits your specific needs.
Cash rate forecasts appear to indicate it will likely reach +2%, so it is important not to be complacent.
Get Intouch with LendVest Finance today!.
W: www.LendVest.com.au
E: [email protected]