The Reserve Bank of Australia has announced that in its Board meeting today, it has decided to decrease the cash rate to 0.75%.
Graph via Reserve Bank of Australia
There has never been a better time to invest in a new PJ Burns home!
Brendan Brial from SMS Finance has created a table showing how Australia’s averge mortgage sizes may be affected: Loan amount examplesLikely decrease in repayments$150,000$21.45 per month$250,000$35.75 per month$350,000$50.05 per month$450,000$64.35 per month$550,000$76.65 per month$650,000$92.95 per month
If you would to know how this change will affect you and paticular building plans and loan, contact us and we can arrange for you to meet with our recommended financier and guide you through the building and finance process.