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Many clients have recently asked us where interest rates are going. It is a great question – the RBA is guiding no changes to the cash rate for another few years, but the money market is suggesting otherwise as the economy potentially recovers post-COVID, and many housing markets across Australia are on the rise.
We recently saw CBA reprice their fixed interest rates, with their 2-year and 3-year rates becoming cheaper, but their 4-year fixed rate moving the other way.
So how are home loan rates determined, and by who – the RBA, or the Banks themselves? What can you do to optimise your loan product and interest rate selections – also can you benefit from ‘Rate Lock’, and at what cost?
All this and more in today’s recording. We hope you enjoy the discussion.
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
