MoneyQuest’s June Cash Rate Update: Winds of Change
If it wasn’t obvious before, it certainly is now… winter has arrived. In the southern states of Australia, temperatures have plummeted, the rain has set in and the wind is bone-chillingly cold.
But it is the winds of change that members of the finance industry are monitoring closely at the moment, as they continue to swirl right across the lending landscape.
The RBA Board has today decided to raise the cash rate for the second month in a row, and for the second time in almost 12 years. It has been increased by 50 basis points and is now sitting at 0.85%.
So if you haven’t caught up with your mortgage broker since taking out your home loan, we recommend you do so now. Your broker can look at how your particular lender is responding to the change in cash rate, and assess whether your current loan is still meeting your needs.
We have over 100 MoneyQuest mortgage brokers on standby right around the country, just waiting to take your call, and our home loan review process is completely free of charge.
The winds of change are swirling, but don’t get swept up in the hype. Speak to a MoneyQuest finance specialist today for guidance that is specific to you.
Disclaimer:
This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).
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