RBA Announcement - June 2019 - Addisons Advisory Group

RBA Announcement - June 2019

Great news for homeowners and borrowers! At its June meeting today, the Reserve Bank of Australia (RBA) cut the official cash rate to just 1.25% - the lowest level in Australian history.

Analysts widely predicted a rate cut would follow hard on the heels of the Federal Election and during May, many lenders started to cut rates on both variable and fixed rate home loan products in anticipation of today’s move. While passing on the full cut is often avoided, this time it seems likely borrowers will enjoy the full benefits as the big banks work to restore trust following last year’s Royal Commission. With home values also continuing to soften, this could be a great opportunity to make your next move up the property ladder.

 

 

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This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. All loans are subject to lenders terms and conditions – fees, charges and eligibility criteria apply.