Unless you’ve been living under a rock, you would have heard that the Reserve Bank of australia (rba) cut the official cash rate by another 25 basis points to 2.00%. That’s right, another historical low for Australia and a chance for homeowners to breathe a little sigh of relief. That is, of course, if your bank actually passes on the rate cut.
The Reserve Bank governor gives a very strong indication that borrowers can expect at least one more interest rate cut this year, while attacking banks that have not passed on this month’s cut in.
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They are however, cutting investor interest-only rates above and beyond the RBA, by 0.35 per cent. Suncorp Bank has also. left in your pocket. “Although it’s good to see Australia’s largest bank,
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After the Reserve Bank’s decision to cut rates to a record low 1.75% today, all eyes are on home loan lenders to see which ones will follow suit and pass on rate cuts to customers. <> The RBA has slashed rates even further to 1.50%, at its August board meeting.
All four of the big banks plan to pass on a central bank interest rate cut, but only one will deliver it in full, as the Reserve Bank calls for more infrastructure spending and job creation policies.
Lenders will be under pressure to pass on all, or at least the bulk, of the RBA cuts to borrowers. The Reserve Bank may cut interest rates in the next few months. (AAP)
Last Tuesday, the rba reduced official interest rates, setting off. banks by passing on the full cut to customers without delay. In the week since, news has generally been positive, with the.
Don’t expect the banks to pass on the Reserve Bank’s rate cuts in full, and don’t assume your mortgage won. cutting investor interest-only rates above and beyond the RBA by 0.35 per cent. Suncorp.
Josh Frydenberg has told the big four banks to pass on in full any interest rate cut to help to stimulate the economy from what official figures could show is the lowest annual growth rate since 2009.
Lenders are not obligated to pass on the rate cut. have a mortgage, here’s what you should do regardless of your situation: If you don’t want to go through the application process that refinancing.