In it’s latest decision, the Reserve Bank of Australia (RBA) has today announced a cut to the official cash rate to a new historic low of 1.5 per cent.
As forecast by most analysts, the cut comes off the back of weak growth in the United States, low inflation in Australia and a moderate housing market.
The move comes as welcoming news for borrowers, first home buyers and would-be investors, with affordability and finance options at some of the best levels in recent years.
Already we’ve seen some of the major banks pass on the latest cut, with the Commonwealth Bank of Australia (CBA) moving immediately, passing on just over half the interest rate cut (13 basis points) – but increasing its one-year deposit rate by 55 basis points to 3 per cent.
If you’re interested in learning more about the latest announcement, or have any questions regarding financing options, feel free to speak to one of our property investment advisers today.
We can help you get in the game and enter the property market with our extensive networks, industry knowledge and proven investment strategies.
