news

Rates to fall in December: Survey

By webmaster

More than one third of Australians are expecting the Reserve Bank to slash rates again in December.

A new national survey, conducted by Loan Market Group, found 39 per of the respondents expect the RBA to cut rates on December 6, while 26 per cent think the RBA will hold fire on cutting rates til the New Year.

Of the 555 respondents, 27 per cent thought rates would stay on hold for the next six months, while only 8 per cent are anticipating a rate rise in the near future.

Loan Market chief operating officer Dean Rushton said the RBA's Melbourne Cup decision to cut the cash rate from 4.75 per cent to 4.5 per cent has been passed on in full by most lenders.

But he said consumers were looking for more relief from the RBA in the lead up to Christmas.

"The RBA cutting interest rates for the first time in more than two and half years did provide some clear direction for consumers," he said.

"But there is no doubt they will need to cut further to continue to shore up confidence in the current global environment.

"A recent survey we ran showed that the issues occurring in Europe were top of mind for consumers when considering their financial position and these issues are not going away and more cuts are needed to stimulate sectors of our economy."

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 to fall in December: Survey
SPI logo