RBA Cuts Cash Rate to 1.25% Blog article
Great news for homeowners and borrowers!
At its June meeting today, the Reserve Bank of Australia (RBA) cut the official cash rate to just 1.25% - the lowest level in Australian history.
Analysts widely predicted a rate cut would follow hot on the heels of the Federal Election. During May, many lenders started to cut rates on both variable and fixed rate home loan products in anticipation of today’s move. although not all lenders will pass on the full cut, it seems most borrowers will enjoy savings as the big banks work to restore trust following last year’s Royal Commission. With home values also continuing to soften, this could be a great opportunity to make your next move up the property ladder.
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