Homeowners Australia wide have sighed a breath of relief this month, as the Reserve Bank did not raise interest rates. There has been an ongoing climb in interest rates, with 12 steady rate hikes since 2002. This month signals the first time the RBA has remained static in 6 years.
As Icap senior economist Matthew Johnson discerned recently, “The bond market is saying pretty strongly that the RBA is not going to raise interest rates”. This is welcomed news for home owners struggling under the increasing pressures of mortgage repayments.
The stresses of mortgage debt is a wide spread problem across the nation, with homeowners’ living budgets suffering as they struggle to meet house basic repayments. The end to the rate rise crisis momentarily gives a cautious optimism for Australians.
If you are struggling under the rate rises and are falling into mortgage debt, ALC can help refinance your repayments into one easy monthly sum. For more information on the options right for you call us now on 1300 138 188.
