Well, common speculation was correct, the RBA has cut rates to a record low at 2% which may push mortgages into the 3’s?
This may be due to a number of factors, namely the strength in the property market.
However, it is not just people with Real Estate interests that are concerned with the speculation for and against rate cuts, it will be people relying on superannuation and living on savings also.
This announcement yesterday is timely for the Real Estate industry with one more weekday open for more agents, vendors and buyers and a large Saturday ahead before weekend Auctions – I can imagine.
However, the true test will be over the next few Saturday’s when all this new stock goes to Auction.
Thomas Merriman.
Thomas Merriman 