Interest Rates and our Mortgage Repayments

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I am sure we all breathed a sigh of relief yesterday about Interest Rates.

The Reserve Bank of Australia (RBA) decided to leave the cash rate at 4.35% .

There are expected to be rate cuts early next year, some are saying February while other analysts are saying May.

Although it would have been nice as a little Christmas Bonus to have a rate cut now, I suppose we have to be thankful the rate did not increase.

It has been a year since the last change, and yesterday’s decision was in line with predictions, with the Australian Bureau of Statistics releasing the latest inflation data, showing a 2.8% annual increase in the September 2024 quarter, down from a 3.8% increase in the June quarter.

So hopefully 2025, will be the year of Interest Rate Cuts and with a lot of land to choose from and building prices holding steady, building will be a very attractive option for investors and first home buyers.