The Reserve Bank of Australia has left official interest rates on hold. Interest rates remain at a record low of 2.0% p.a and we are now in the fifth consecutive month of record low interest rates.
Mortgage Broker What If We Finance believes recent concerns over the future growth prospects of the global economy and the decision by the Federal Reserve to leave USA interest rates on hold points to an increasing prospect of another rate cut. Maybe as early as the the new year.
Continued volatility of global stock markets, falls in August building approvals and capital city auction markets starting to weaken will strengthen the case for an interest rate cut.
The economic data continues to remain mixed and the volatility and uncertainty means home borrowers for a continued spate of low interest rates.
Contact What If We Finance today to find out how the low interest rate environment can benefit you.