Housing Loan Interest Moves Independent of RBA Despite Holding Pattern
Australian inflation, which the Reserve Bank of Australia aims to control with monetary policy, is likely to remain low for some time. As a result, economists estimate that the official cash rate won’t move for up to 19-months. However, lenders appear to have other ideas as the housing market continues to fluctuate.
So, in terms of housing loans, what’s on the horizon for the average home buyer? Well, according to Canstar, it’s a mixed bag. Some lenders are opting to move rates up, while others have dropped theirs to increase competition and make themselves more attractive to homeowners looking for better deals.
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