Today the RBA left the official cash rate on hold at 2.00% during the first board meeting of 2016.
The RBA noted in their press release “low interest rates are supporting demand, while regulatory measures are working to emphasis prudent lending standards and so to contain risks in the housing market”.
On property price increases, the RBA said “the pace of growth in dwelling prices has moderated in Melbourne and Sydney” and “has remained mostly subdued in other cities”.
Looking to the future the RBA offered these comments “Continued low inflation may provide scope for easier policy, should that be appropriate to lend support to demand”.
Recently lending criteria became harder for investors, making competition for owner occupier home loans more competitive.
To find out what interest rates banks are currently offering please see our home loan comparison page.
To compare more options and obtain a loan pre-approval you should speak to a licensed mortgage broker.
To view the full RBA press release please click here.
