news

Rates on hold

By Steven Cross

Despite a raft of less than impressive economic data, the Reserve Bank of Australia (RBA) has decided to keep the official cash rate on hold.

At its monthly Board meeting earlier today, the RBA decided it was prudent to keep the cash rate at 3.25 per cent – slightly above the historic low of three per cent.

Research director at RP Data Tim Lawless felt the decision was based on the RBA waiting for the previous October cut to flow through.

“Clearly some of the more positive data flows that have arrived lately have caused the RBA to wait and see how the economy is responding the current cash rate setting.  From a housing market perspective, I would have to assume the RBA is reasonably comfortable with the current performance of the market. 

“Dwelling values are 2.1 per cent higher than what they were at the end of May this year and there has been a modest uptick in transaction volumes which, suggests that consumers are slowly responding to the previous rate cuts. 

“The twenty five basis point rate cut in October is still working its way through the data, so I am sure the RBA will be watching how values pan out in November based on the RP Data-Rismark daily index, which is already showing a small improvement in dwelling values since the start of the month.”

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%
Rates on hold
SPI logo