Home loan borrowers can expect rates to fall throughout the rest of this year and next, commentators say.
The Reserve Bank cut the official cash rate by 25bps to 5.25 percent on Wednesday.
While it was a move that was forecast by several economists, it was a u-turn from the bank’s position in May. Infometrics chief executive Brad Olsen described it as a “WTH moment” and “the biggest flip-flop ever”.
We’ve also been on 6 month renewals, but only refixed last month so hopefully we see another drop before Christmas! Not holding me breath, though.