Reserve Bank lowers interest rates by 0.25% to 3.50%.
Following the recent falls in our share market as a result of continued worries in the Eurozone coupled with weaker than expected employment figures in the United States, and a slowing growth in China, the Reserve Bank of Australia has decided to reduce interest rates by 0.25%.
This decision will give mortgage holders some relief, after many have seen their investment portfolio falling by over 5% in recent days.
The next question now is how much of this will the banks pass on.
When was the last time you have review your mortgage? Are you paying too much?
To find out more how we can help you save money click here, or call Danny Luu or Sandra Crossland at Liquidity Finance on 02 9290 2777.