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RBA UPDATE | Effective March 8, 2023

The Reserve Bank of Australia (RBA) has risen the official cash rate by 25 basis points to 3.60%, making this the tenth consecutive increase for the nation. Board members stated that the increase “was warranted”, despite Australian’s also experiencing increases to the cost of living. The board’s decision was influenced by wages, unemployment, services demand, supply chain issues and the 33-year record high inflation.

Despite a lower volume of properties, interestingly enough, auction clearance rates across Australia remained surprisingly strong, according to CoreLogic. Adelaide experienced the most significant increase from last year, followed by Melbourne. Sydney saw a marginal drop; and Brisbane is down 6%. The strong bidding and high clearance rates are a positive sign for the housing market and suggest that buyers remain confident in the long-term prospects of the property market.

It is important to review your home loan regularly to ensure it still meets your needs. Working with a mortgage broker or trusted finance professional can help make the process easier and help you find the products to best suit your needs.

Please contact me if you would like to discuss this further and see how I can help you.

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Call us today or visit https://go4loans.com.au/ to book an appointment

It's always a great feeling when you buy your dream home!!

When was the last time you reviewed your borrowing power?

Do you know how much equity is available on your existing home? Have you thought of Investing?

If the answer is no or never, call us today to find out how we can help and see what best loan suits you.

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Let us guide you through the mortgage maze 🏠🏠

Call us today or visit https://go4loans.com.au/ to book an appointment.



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