Following on from the second confirmed rate increase by the RBA for 2023, you may be asking yourself, “how did we get here?”
Below are the events leading up to this decision. Here’s what we know:
1. Over the past year, the property market and cost of living has been impacted by a surge in inflation, currently sitting at a rate of 7.8%.
2. To combat this, the RBA has raised the cash rate 10 consecutive times since May 2022, which has received criticism.
3. After March’s increase to 3.36%, Reserve Bank governor Philip Lowe spoke out saying the rate rises have been necessary to combat inflation.
The current interest rate is the highest interest rate since May 2012.
We have all had our loan repayments jump excessively as a result and many of us are experiencing a financially challenging time.
Why not allow me to review your current interest rate and negotiate with your current lender directly, on your behalf.
If you would like me to try my absolute best to help, please provide the following details by emailing me at toby@tfshomeloans.com.au and let me see what I can do:
– A snapshot of your loan displaying the loan account number, as well as the current loan limit and balance
– Current Interest rate
I will endeavour to obtain the best possible interest rate with your current lender however, if you are then unhappy with this new rate, we can always discuss the possibility of a Refinance option.
Cheers
Toby.
