RBA September Update
The Reserve Bank of Australia (RBA) has raised the cash rate at September’s monetary policy meeting, taking it from 1.85% to 2.35%.
Today’s increase follows a 50-basis-point rise in August, July and June and a 25-basis-point increase in May, and brings the cash rate to its highest level since December 2014. Between 2014 and 2022, a lot has changed, and that might mean your home loan may be less suitable than it originally was.
Undergoing a home loan health check can reveal if you are paying too much. Ensuring your loan is healthy can avoid nasty surprises.
It doesn’t take long; your broker can do a loan health check in person or over the phone. We will take the stress out of it for you to ensure your loan is still competitive and suitable to your needs.
What do you want checked?
When contacting your broker be aware of what you would like checked. Some things to consider when discussing with your broker:
What are rates doing now, and what is your current rate?
Am I getting the best out of my loan?
What loan features am I receiving?
Have my financial circumstances changed?