Freedom Mortgage Broking Plus

Interest rate update!!!!!

Today, for the third consecutive time, the Reserve Bank of Australia increased the cash rate by 0.25 basis points to 4.35%.

The cash rate is the benchmark rate that Australian lenders use to calculate interest rates. Typically, when the cash rate goes up, lenders often pass the rate increase to their customers. The same applies when the cash rate decreases.

What does this mean for variable interest rate mortgage holders?
In the next one or two weeks, you may notice an increase in your repayment amount up to $100, depending on your loan amount.
The current economic outlook for this quarter appears concerning, as inflation has slightly risen due to increased federal government spending. This rate increase is intended to mitigate inflation and global uncertainty.

In addition, high demand for houses, a low supply of established homes for sale and a drop in construction approval are making the housing situation worse.

An option is available to you.
We anticipate one or two additional interest rate increases before this financial year ends. It may be prudent and essential to consider the option of refinancing to a fixed rate to avoid paying any potential future interest rate hike.

I can help you evaluate the costs and benefits to determine if switching to a fixed rate is more cost-effective over the next one or two years.

If you have any questions or need further clarification, please don't hesitate to contact me at 0412934421 or [email protected].

Business finance is available.

Hi Perth,
As the cost of building or buying an established home continues to rise, Keystart has increased her 2% deposit property cap from $800,000 to $860,000.

This will enable first home buyers in Western Australia to enter the market with very low deposit requirement and buy or build a house that cost up to $860,000.

Contact me at 0412934421 or [email protected] if you are interested in learning more on how to get in.

I look forward to assisting you.

Michael Freeman
Credit Representative (533019) of BLSSA Pty Ltd.
ACN: 117651760
ACL: 391237.