The RBA left the cash rate on hold at 1.5% at its March meeting today. but there is a growing possibility that rates could fall later this year.
The interest rate earned on “lost” bank accounts for the 2017-18 period was 2.13%. The average interest rate on a transaction account over the same period was a measly 0.11%.
The RBA has looked past the housing downturn which has gathered some momentum over the past three months, to hold the cash rate firm at their first meeting this year.
The longest period of interest rate stability on record has extended out another month, with the RBA keeping the cash rate on hold at 1.5% where it has remained since they cut the cash rate by 25 basis points in May and August of 2016.
About $240 billion of interest-only loans is scheduled to roll over to principal and interest in the next two years. Here’s how to avoid ending up in mortgage stress.
As the housing market continues to fall sharply around most parts of Australia, the risk of the current credit squeeze turning into a credit crunch is real and is rising.
Mortgage rates to investors are up as much as 50 basis points over the same time frame but the RBA has held the cash rate at 1.5% for a record 27th month.
Flex commissions on car loans will be banned in Australia from next month but is this change enough to protect consumers? No.