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Level 4, 183 Wickham Terrace Brisbane QLD 4001
(1800) 217 217 Free case consultation

The Reserve Bank of Australia (RBA) Rate Cut Back-to-back

If you haven’t heard already the RBA, after having the Cash Rate at a stable 1.5% for the last 2 years, have now cut the cash rate by 0.5%.  The last time RBA dropped the Cash Rate was in August 2016 and this lasted for 2 and a half years. Now in a matter of […]

The Reserve Bank of Australia (RBA) Rate Cut Back-to-back

The Reserve Bank of Australia (RBA) Rate Cut Back-to-back

By Aylward Game - Jul 18, 2019 Financial

If you haven’t heard already the RBA, after having the Cash Rate at a stable 1.5% for the last 2 years, have now cut the cash rate by 0.5%.  The last time RBA dropped the Cash Rate was in August 2016 and this lasted for 2 and a half years. Now in a matter of months we have seen back-to-back rate drops bringing the cash rate down to 1.25% in June and now 1% in July.

If you hadn’t previously thought about reviewing or fixing your home loan rate, now might be a great time to speak with your bank and review your home loan repayments. Most banks have now passed these cuts on, however make sure you speak with your banker to ensure you are receiving the best possible rate.  

This is the lowest it has been in 20 years. Check out the history here https://www.rba.gov.au/statistics/cash-rate/

If you are planning a property sale or purchase, contact your experienced property law team at Aylward Game Solicitors on 1800 217 217