The Reserve Bank of Australia made their announcement today to leave the official cash rate unchanged at 1.5%. It has now been two years since the last cash rate move. We think this is due to a combination of factors including very low wages growth, high underemployment, flattening property prices and home lending and modest inflation. Many experts are predicting it may be some time before we see the next rate movement and it may actually be downwards.
Buying a house is possibly one of the largest investments you will make in your life.
If you’re like the majority of us, you’ll need to borrow money, so before you go looking for your dream home, it’s a really good idea to find out how much you can borrow.
If you decide to do a little research yourself, you’ll find some online tools that are really useful such as mortgage calculators. These give you a quick idea of how much you can borrow by filling in a few simple details.