RBA announced today that they will reduce the cash rate by 0.25 points, down to 3.00%. We'll watch to see how the banks respond and what net benefit homeowners are likely to receive from today's decision.
With yet another downward movement, it looks like interest rates will (at worst) be stable over the coming months - allowing home buyers to belt down their principal payments and own their home sooner, as well as allowing investors to achieve attractive gearing ratios.
If you would like more information on the Queensland property market, give your local Buyer's Agency a call on 1300 911 576.
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