The Reserve Bank earlier this week decided to keep interest rates on hold with analysts predicting a cut later this year, potentially as early as August, or as late as November.
This is a good opportunity for mortgage holders to assess their current loan arrangements and shop around for a better rate. Banks are obviously keen to hold on to their existing customers and sometimes all it takes is a phone call for them to match or better a competitor’s rate.
If you are a buyer about to enter the market, it’s a good idea to shop around for the best mortgage deal, rather than just going with the bank you have always used for every day banking or credit cards.
A good mortgage broker can do this research for you and pick the best loan to suit your particular circumstances.
Our dedicated team would be happy to assist you in any facet of buying a home.
Until next week,
Nick Lord (Director)
