While indicators are shifting, the RBA has made it clear that consistent progress is necessary before any rate cuts are implemented, particularly until underlying inflation drops below 3%.
Home equity is the difference between your property’s current market value and the remaining balance on your home loan.
Most often, LMI is paid as a lump sum at the start of the loan. Imagine a world where instead of paying a large sum upfront, you could spread your LMI payments over monthly instalments.
The RBA has chosen to maintain the cash rate at 4.35% in November.
The RBA remained determined to take steps against inflation but they did not discuss rate hikes directly.
We could see interest rates come down and then go right back up. Borrowers must keep this in mind, especially as we enter a period of increased instability given what’s unfolding in the Middle East.
Are first home buyers drawing the short straw by choosing units, or are they making a savvy move to enter the property market earlier?
Assess your financial situation, spending habits, and future plans to determine whether Offset or Redraw account best suits your mortgage management strategy.
The official cash rate is on hold at 4.35% for the seventh consecutive meeting.
