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Mortgage Broker | mortgagebroker

Home Loan Interest Rates Expected to Fall

Sep 30th 2015 at 5:57 PM

ANZ Breaks Ranks

 

ANZ is the first major bank in Australia to predict higher unemployment will force the Reserve Bank of Australia to cut their benchmark interest rates. The benchmark interest rate also influences the home loan rate made avaialbel to borrowers.

ANZ was previously been in agreement with  Commonwealth Bank and Westpac in expecting rates to stay on hold. However, in light with slowing growth expectations what does this mean for future interest rate cuts?

“Pinpointing the timing of the cuts is tricky, but we are pencilling in 25 basis points cuts in February and May at this stage,”  ANZ advise.

CBA, Westpac and NAB were unmoved in their view that rates would remain on hold.

Home Loan Health Checks

Regardless of the banks interest rate predictions mortgage broker What If We Finance advises now is the time to review your home loan with a home loan helath check. The uncertainty means you may no longer hold a suitable product so act quickly to refinance and save some money.

As part of the home loan helath check your home loan will be asssessed against yoru current and future needs and a suitable product recommended. Not all helath checks require a refinance, we can simply negotaite a better rate with the bank or change terms.

What If We Finance advise that a helath check is vital every 18 to 24 months to ensure you are getting the best possible deal .

 

 

 

 

 

 

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