At its meeting today, the Board decided to
LEAVE THE CASH RATE ON HOLD AT 1.00%
The Governor of the RBA, Philip Lowe’s statement is available in full CLICK HERE
Over the past 2 months we have seen the RBA lower the cash rate, and hopefully you have now seen that filter through to your monthly repayment being lowered.
Some great news that has also happened over the past month, has been the lowering of the servicability rate from 7.25% to between 5.25%-5.75% (depending on lenders).
This will improve your ability to borrow, so if you have spoken to me over the past year, and didn’t like what you heard, please touch base with me again to see how the lower serviceability rate improves your borrowings.