The reserve bank have announced the official cash rate (OCR) will remain at 0.10% for three years.
How could this affect my finances?
With a low official cash rate for the foreseeable future, Australians have unprecedented opportunities to get low-interest home loans. To current borrowers, the Reserve Bank Governor has a simple clear message- “I would encourage everybody to go and ask their bank for a better deal”
As a broker, I can have this conversation on your behalf. Most lenders have already announced new rates, but not all lenders will automatically apply the new rates to existing loans.
To find out what the rate drop means for you, call me on 0414 383 212 or message me below by clicking the button and completing the contact form.
What if my bank doesn’t offer me a lower rate?
If you’re not satisfied with what your bank rate is offering , we can evaluate the pros and cons of switching your loan to another lender and make the right decision for your finances. There are usually breaking fees associated with refinances, but the long-term savings you can achieve will often surpass the one off costs.
If there is anything I can help you with, or if you have any questions please don’t hesitate to get in touch.
We’ll seek you the sweetest deals.
Published 09/11/2020