Mortgage Market Archives - Pearl Financial

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Dec 19

Canstar Have A New Analysis On The Current Situation Of The Mortgage Market

By Editorial Team | News

The Variable Mortgage interest rates have gone down to 2.89%, this is in line with the monetary policy adjustments of the RBA (Reserve Bank of Australia).

Canstar, a research and expert ratings agency in Australia, have presented a snapshot of the mortgage rate environment in compliance with the RBA’s consecutive adjustments with their monetary policy which predicted that cash rate fall by a total of 50 basis point to a new record low of 1%.

RBA’s main objective why they need to have a back to back cut rates is to encourage the labour market, stating that lower rates could help support the needed growth in employment. The mortgage market promptly responded to the cut rates as they have already implemented it to their home loan clients.

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