The RBA has once again left the official cash rate on hold at 1.5%

Now that the weekend’s grand final sporting festivities have come to a close, I’d like to draw your attention to today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision.

In making this call, the RBA has resisted temptation to further lower rates, opting instead to wait until the September quarter CPI data is released to allow it more time to measure the impact of the August rate cut.

Even though the official cash rate has remained unchanged, lenders can move their rates independently, so you may see a change to your rate. Of course, one of the many benefits of having me as your mortgage broker onside is I’m very happy to speak to you at any time to ensure you still have the right financial solution for your current circumstances.

While the official cash rate remains unchanged, banks and non-bank lenders continue to move their rates out of cycle and there may be a better product for your circumstances. If you want to discuss your home loan rate, fees or structure, please feel free to get in touch today.