Help fund relief efforts for the Australian Bushfires #beyondthebricks
Support Now
News

Reserve Bank Interest Rate Announcement

By Cathy Pieroz

The Reserve Bank has kept interest rates on hold today.

The move was expected given there has been little change in the global outlook and in Australia’s own economy since the Reserve Bank met last month.

Rates will remain at 4.25 per cent for the next month. Some experts have, however, predicted a rate cut could come later in the year.

“Many economists are betting on a May rate cut unless we see an improvement in the economy,” says Domain property expert Carolyn Boyd. “However, the Reserve Bank has so far indicated it is reasonably comfortable with where rates are.”

The move follows back-to-back rate cuts in November and December last year, and a decision to keep rates on hold in February and March.

Each 0.25 per cent drop in interest rates slices about $60 off the monthly interest cost of an average Australian mortgage.

Further details on what the decision to keep interest rates at 4.25 per cent means to you and the Australian property market will be outlined in this week’s Domain Property Newsletter.

Sourced: www.domain.com.au

Up to Date

Latest News

  • How to protect yourself from poor apartment construction… Part 1

    With prices climbing for single-family homes, more and more Australians are opting for flat living. Over the past few decades, apartment dwellers have increased to encompass 10% of the population, with an estimated occupied flat for every five houses. Nearly half the residential property listings in Sydney and Perth are … Read more

    Read Full Post

  • What can you learn from auction clearance rates?

    There’s more than one way to sell a home, and more than one way to predict what’s coming in the housing market. Auction clearance rates are one indicator that can show you how the market is moving and can help you determine the best time to buy or sell a residential property. … Read more

    Read Full Post