Interest Rate Cuts
October 07, 2008 | admin | Comments 0
The Reserve Bank of Australia (RBA) has just lowered interest rates this afternoon by a full percent, which is more than double what most analysts predicted.
The last time the RBA made such a cut was in May 1992, during the last recession.
The question now is: ‘Will the Banks pass on this cut and how much we will see?’
Westpac has already responded by dropping their standard rate to 8.56%, a reduction of 0.8%.
It will be interesting to see the effect that this interest rate cut has on the Property Market. I just wanted to share the exciting news with you as this will affect all our investment loans.
Happy Investing!
Filed Under: Interest Rates • Property Investment
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