Three cuts have been made since June 2019, but with signs pressure on the economy is easing, the RBA decided to keep the cash rate stable. With a stronger than expected inflation figure of 1.7% for the 12 months to September, the pressure was off to cut interest rates.
With property experts predicting the spring selling season continuing up until Christmas, it’s still prime time for buyers to be taking advantage of the record low interest rates when taking out a loan.
Searching for a competitive rate is highly recommended as while the smaller banks have passed on the entire rate cuts to consumers, many of the bigger banks have not passed the cuts on in full.
