The Reserve Bank of Australia (RBA) decided to hold interest rates on Tuesday, as they wait for the economy to settle more after the natural disasters at the start of the year, coupled with a very soft overall lending environment.
What this means for you:
- If you’ve just bought a new home, you’ve got a bit more time to settle in before interest rates rise.
- If you’re looking to buy, it’s a great time to consider fixing part of your loan – make sure you speak to a qualified mortgage broker to get the best advice for you.
While the rising cost of living remains a primary concern for many new home buyers and the rate hold is a relief, there is speculation that we will see two interest rate rises throughout the rest of 2011.
We’re slowly seeing consumer confidence return and as more buyers move back into the market, property prices will resume their rise – another great reason to consider your options sooner rather than later.
Whether you’re looking to buy your first home or add to your portfolio, there are a number of free financial services available to help you as part of our award-winning philosophy at Choice Home Loans, including a home loan health check.
You can phone Choice on 1300 2 CHOICE or pop into one of their offices based at Porter Davis display centres.