The Interest Rate Cuts from the Reserve Bank of Australia have different effects on society. The four major banks have managed to answer these changes implemented basic standard variable mortgage rates one after another.
Many, but not all, would benefit from this interest rate cut changes. There still some that would not be benefited or feel that these changes would be a disadvantage on their part. The interest rate cut is a very important move because as we know, there are so many borrowers in Australia and most of them are having difficulty when they are already dealing with the housing repayments. The level of indebtedness in Australia is also increasing and it also means that the interest rate cut has a stronger impact than it used to be in previous years.Continue reading