The Reserve Bank of Australia has made its final interest rate decision of the year at its monthly board meeting.

The board confirmed general expectations by leaving the official cash rate at a record-low setting of 2 per cent, where it has been since May.

At various times this year, there has been talk that the RBA might either cut rates to stimulate the economy or increase rates to cool the Sydney and Melbourne property markets.

However, with the economy growing slightly stronger and the nation’s two biggest housing markets slowing down, those two concerns appear to have cancelled each other out.  It is important to note, however, that banks have quietly increased their mortgage rates and cooling the market in general.

Contact us to help you determine if you might be paying more than you need to for your home loan.

If you have any questions please contact:
Harry Pontikis
Director
Master Builders Financial Services
P: 1300 137 539

Chocolate Money t/a Master Builders Financial Services
Australian Credit License # 387277

DISCLAIMER: This is not specific advice as your situation has not been taken into consideration