girl covering her face with both hands worried about interest rates and cash rate

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This just in the RBA has announced NO rate change

It’s officially been 2 years since the RBA started increasing rates from the low of 0.10%. If only we could turn back time, right?!

On the bright side, the cash rate has held steady for the 6th month in a row at 4.35%.

To recap…

From May 2022 to April 2024 the cash rate moved from 0.10% to 4.35%.  Today it’s staying at 4.35%.

Does this mean I can rest easy on my current interest rate?

The good news – history suggests that lender rates will also remain stable this month (we saw this play out last year). But if you are at all unsure of about your current rate or just want to see if it could go lower, talk to Broker Kit. Your dedicated Broker Kit mortgage broker will grab some details, find you the best loan options and keep you in the loop with any changes.

Remember – if you haven’t checked your rate in the last year or two, it might no longer be as competitive as before. So setup a meeting with your Broker Kit broker.

Will interest rates go down in 2024?

Over the past few months, economists have been predicting that the next interest rate move would be a drop. But in the last week or so, things have taken a little turn, and they’re now split on whether it’s going up or down next.

When will the next move be? At this stage, that’s anyone’s guess (if only we had a crystal ball).

But don’t worry, we’re keeping our finger on the pulse, and you’ll be the first to know when the next move is made.