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Breaking news – Interest rate update

Tuesday, June 6th, 2017

HI All

The RBA has opted to leave the official cash rate on hold at 1.5%.

As lenders continue with their out of cycle interest rate increases and with the growing probability that the government’s bank levy will be passed onto customers, the Reserve Bank of Australia today decided to leave the official cash rate unchanged.

In continuing to adopt a wait and see approach the RBA took into account the latest set of mixed economic data. Unemployment has fallen from 5.9% to 5.7% and retail spending was up 1% in April but there are signs that the housing markets in Sydney and Melbourne are slowing and economic growth data due out tomorrow is expected to be lower.

Regardless of whether rates move up, down or stay the same, my role as your mortgage broker remains unchanged. I’m always on hand to ensure you still have the right financial solution for your current circumstances.

If you would like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.

Kind Regards,
Lynne, Aron and Jo
Aussie Mortgage Masters

Author: Lynne Cox

She is a Mortgage Broker and holds an Australian Credit Licence # 365386. She has been involved in the Mortgage Broking Industry since May 1996 but has been involved in small business since 1977. Lynne is a licensed finance broker. She was the President of the Finance Brokers Association of Australia until March 2004 where she is now a Life Member, and she was also a Member of the Finance Brokers Supervisory Board until it disbanded in October 2003.