At its meeting today, the RBA decided to leave the cash rate unchanged at 2.5 per cent.
This is again welcome news for any mortgagee, and less welcome news for my retiree clients with larger fixed income portfolios.
Most home owners are aware (and if you are not, then listen now), that mortgage rates are at epic lows. This has meant a few of my clients have started considering locking in rates. It is a tough call, and I recommend talking with your broker, and considering carefully what a fixed rate means for your cashflow, and what it costs you if rates stay below it for two or three years.
As always, welcome your comments below.