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April 2023 Interest Rates On Hold

April Interest Rates

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The RBA has offered some reprieve for borrowers and, after 11 interest rate rises in a row, kept interest rates on hold in April 2023. The cash rate remains only held at 3.60 %pa.

Mortgage Broker What If We Finance believes this is not a pause or the start of interest rate reductions, but the RBA is waiting to see if enough has been done to control inflation.

While the RBA did not raise rates at its monthly meeting, governor Philip Lowe said: “some further tightening of monetary policy may well be needed to ensure that inflation returns to target”.

April 2023 Interest Rates On Hold

April Interest rate

“The decision to hold interest rates steady this month provides the board with more time to assess the state of the economy and the outlook in an environment of considerable uncertainty,” Dr Lowe said in a statement after the meeting.

“In assessing when and how much further interest rates need to increase, the board will pay close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market.”

The RBA is waiting because the effects of the fixed-rate mortgage cliff are kicking in, and it will want to assess the economic impact. There is fear that higher interest rates will greatly impact economic activity.

As published in December 2022, What If We Finance believes interest rates are close to their peak.

Contact mortgage broker Melbourne, What If We Finance, to determine if your home loan still works for you.

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Adam Smith
Adam Smith
December 3, 2023
I initially engaged Spiro (What if we Finance) back in Sept-22 when I was first looking into possibilities of buying a property. As part of my due diligence I met with several well reviewed Mortgage Brokers at the time, however, not one of them were as clear at walking me through the process and clarifying my personal borrowing power vs buying objectives as much as Spiro did. I knew after the initial discussion that he was “the one” and based on our chat he made it clear that in order to meet my borrowing objectives my deposit may be a limiting factor. Well, one year later and with a bigger deposit, I got back in contact in order to officially start the process. Impressively, Spiro remembered me and we continued our discussion by going through everything in detail once again based on current market conditions. His process and tools made the entire process smooth, stress free and easy to understand, and I felt very confident knowing Spiro was my trusted advisor and would be able to handle any issues which may arise. This was especially reassuring considering the many other challenges one needs to face when searching for and buying a property. Overall, I have no hesitation in recommending Spiro and would definitely use him again when buying our next property. If anyone is out there sifting through the thousands of mortgage brokers, I suggest you add “What If We Finance” to your shortlist and book in a chat with Spiro.
Catherine Serpell
Catherine Serpell
November 17, 2023
My partner and I have had a great experience with Spiro! From start to finish, Spiro guided us through the process seamlessly, ensuring a smooth experience. We've really appreciated his reliability and patience in answering all our questions. We highly recommend Spiro to anyone seeking a trustworthy mortgage broker.
Evan Pash
Evan Pash
November 17, 2023
I recently had the pleasure of working with Spiro and his team and cannot express how satisfied I am with the exceptional service provided. From the initial consultation to the closing of my mortgage, the experience was nothing short of outstanding. Spiro demonstrated an impressive level of expertise and professionalism throughout the entire process. They were attentive to my specific financial needs and took the time to explain complex mortgage terms in a way that was easy to understand. The personalised approach made me feel confident and well-informed at every step.
Lucas Hunter
Lucas Hunter
November 14, 2023
Great service from Spiro and the team, assisting us at every turn to find our first home and organise our loan. Very knowledgeable and fast turnaround, thank you!
Burak Guven
Burak Guven
November 7, 2023
Amazing service. Entire process was seamless. Couldn’t be happier with the outcome of my loan application. Spiro is an absolute expert at what he does.
Wesley Loh
Wesley Loh
October 12, 2023
Sprio came to the rescue after an Aussie Home Loans broker put our purchase in jeopardy through his shocking negligence (convinced us of a loan product and its preapproval, only to learn that the product had a loan limit he was unaware of). Not only did Spiro find another product that fit, he successfully negotiated a lower rate for us. To get us over the line, Spiro worked night and day (we got emails at 5am, and he was available on phone and video call late into the night whenever we needed him), and even put in hard hours on AFL Grand Final weekend. The biggest compliment I can give is that Spiro always had things under control and made us feel like we were in safe hands. His expert knowledge combined with his incredible level of ownership gave us peace of mind in a stressful and time-sensitive situation. Thanks for your hard work and dedication, Spiro. We're so grateful that we found you.
Olivia Simpkin
Olivia Simpkin
October 12, 2023
I could not recommend Spiro and his team highly enough. Our experience has been wonderful from start to finish. We actually had a broker when we started the purchase of our new home, but he made a very large mistake that put us and our offer in jeopardy. We quickly moved to Spiro to see if he could help and he was able to turn everything around and fix the problem without hesitation. His knowledge and experience as a broker is exactly what you need when you are going through the stressful experience of purchasing your first home. He always answered the thousands of questions we threw his way, and he worked all hours of the day (even going so far as working on public holidays, when he was ill, and when his loved one was ill) just to ensure our deal went through. Regardless of what issues appeared (and with the banks behaving so poorly there were a few out of our control), he worked tirelessly behind the scenes to smooth everything out. He was also always very open with his communication, explaining all the broker jargon to help my understanding, and updating us consistently on how matters were going so we never felt blind. Thank you Spiro for all your help, we couldn't have done it without you.
Tony Wood
Tony Wood
October 9, 2023
Spiro & the What If We Finance team are experts in all aspects of lending from Purchase/Refinance of Owner-Occupied properties through to Investment & Self-Employed Lending.
Brittany Olver
Brittany Olver
September 21, 2023
Our experience with What If We Finance could not have been more positive. Spiro took the time to listen to our goals, offer sound and clear advice, whilst also answering our questions in an extremely professional and timely manner. Most importantly though, Spiro got the job done. Having had disappointing experiences with other brokers, we were left feeling as if maybe purchasing a property was out of our reach. Spiro however, provided us with a breath of fresh air, through his positivity and pro-active approach. Now, my fiance' and I are the happy owners of our new home and incredibly excited to build our future here. We have Spiro and the team at What If We Finance to thank for that!
Steven Frantzis
Steven Frantzis
September 9, 2023
Grateful of the service provided by Spiro and the team at What If We Finance. Clear example of expertise, highly recommend!