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The RBA has decreased the official cash rate to a new record low of 0.50% to counter the economic slowdown posed by the coronavirus outburst and bush fire disaster.
The official cash rate regulates the instant borrowing costs of lenders and has a straight influence on variable mortgage and other lending options. Many lenders pass on some or all of the rate cut to their customers.
As the lenders continue to assess their rates after RBA’s announcement, it is important to evaluate your borrowing options.
Are you paying the right home loan interest rate?
At Carbone Partners, our in-house finance team works with various lenders and is ready to assist you in finding the right financial institution with the best interest rates to suit your needs.
To find out more about how this interest rate change will affect your financial situation, call our office today!