Autumn’s Cooling Housing Market Sees RBA Wrap March Rates
How has the housing market effected the RBA’s decision this month? Don’t wait a minute longer, find out now to see if you could save more on your home loan.
With Autumn here, the colder weather has brought with it a slower property market and levels of employment and wage growth. As a result, the Reserve Bank of Australia (RBA) has left rates on hold, yet again. In fact, economists now suggest the RBA won’t make any move until the end of 2018, possibly early 2019. Although, this doesn’t mean banks won’t make independent rate changes.
What’s the bottom line? The Reserve has not made a rate move since November 2010. This stance is due to national dwelling values falling by more than 0.8% from their September 2017 peak, and slower levels of employment and wage growth placing added financial pressure on Australian households. These aspects, coupled with weaker inflation, have seen the RBA wrap March rates to put some heat back into the economy.
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