With the uncertainty of the federal election behind it, the RBA has decided to reduce the official cash rate to a record low of 1.25% as it tries to stimulate household spending and the economy. This is the first rate move since August 2016.
If you’ve decided that you want to build your dream home, or if you absolutely love your current home but want to update or extend it, you may find that a construction loan is the ideal choice for you. Construction loans are different to a traditional purchase, so we’ve put together some things to consider when going down this path.
In the lead up to the federal election the RBA has again decided to leave the official cash rate unchanged at 1.5%.
Only twice before has the RBA elected to drop rates during an election campaign and on both those occasions the incumbent governing party lost the election.
Positive Credit Reporting also known as Comprehensive Credit Reporting (CCR) is a reporting system whereby lenders share more of your data with credit bureaus such as Equifax and Experian. This in turn will be listed on your credit report.
In the past, the only information that was mandatory to share was Negative Credit Reporting. It wasn’t until 1st July 2018 when it was made compulsory for the big banks to share at least 50% of your positive credit data with credit bureaus. By 1st July 2019 this amount will be increased to 100%.
The RBA has decided to leave the official cash rate unchanged at 1.5%.
With speculation mounting that a date for the federal election is close to being announced and that tonight’s federal budget will bring with it tax cuts, the Reserve Bank has again left rates on hold.