Mortgage News

SMH has reported that the RBA is likely to keep Interest Rates on hold when it comes to it’s meeting in April next month meaning good news for home owners. Mortgage and lending figures have spurred the hold for the moment as it has lead to uncertainty and that the Board noted slower lending during the latest period. The board weighed up that new home approvals and developments had raised slightly, though house prices had started to rapidly increase at an alarming rate.

Simon Reibelt from Oasis Home Loans Northern Beaches stated that if the RBA decided to keep rates on hold for one month at a time to ensure its decisions were correct then it would take small steps at a time. It was expected though that the Board would raise the rate a few times over the next year as our economy strengthened.