The Reserve Bank of Australia (RBA) has held the cash rate at its historic low of 1.5% for the 24th consecutive month. It is the longest period of interest rate stability on record.
Citing stubbornly low inflation, record high household debt, a slack labour market and, more recently, falling dwelling values, Corelogic head of research Tim Lawless said, “Despite housing market headwinds from tighter credit conditions, the prospect of mortgage rates remaining reasonably stable should help to keep a floor under housing demand.”
Please click this link to see the RBA Statement by Philip Lowe, Governor.
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‘Article by Paul Menti of Mortgage Masters Queensland’