RBA rate cut: Mortgagees and first home buyers to win

Posted by Simon Dehne on May 9, 2016 in Latest News with No Comments

Mortgage holders and first-timers on the cusp of buying a property are poised to be the biggest winners from the Reserve Bank’s decision to slash the cash rate to a record low of 1.75 per cent.

The drop of 25 basis points is the first change since the drop in May last year.

If the banks pass on the rate cut – or at least a significant portion, it will make the cost of borrowing more affordable than ever for first home buyers close to making a decision.

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