MoneyQuest’s May 2023 Cash Rate Update – Party’s Over
After a long-awaited hold decision was handed down last month (after 10 consecutive rate rises), the Reserve Bank of Australia Board has changed tack yet again by deciding to increase the cash rate today, this time by 25 basis points, making the official cash rate 3.85%.
This is not the news Australian homeowners were hoping for, as those with variable rate home loans prepare for lenders to pass on yet another interest rate hike. Whilst this is a trying time for many, don’t forget that our team of mortgage brokers are on hand to help.
Whether you’d like to shop around for a different loan, request a rate review or chat about your borrowing capacity, our team can guide you through these processes and potentially help to lessen your financial load.
So why not reach out to your local MoneyQuest mortgage broker today.
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