Borrowers who believe interest rates have bottomed out have a limited time to take advantage of a record low fixed rate of 3.99 percent for two years from 2015 Home Lender of the Year, loans.com.au.
The cash rate was held steady at 2.00 percent for July but finance commentators predict the RBA will move again before the end of the year.
Even though the RBA didn’t cut the cash rate today, borrowers can save themselves about $100,000 by choosing a cheaper home loan, according to 2015 Home Lender of the Year, loans.com.au.
Loans.com.au has scooped the pool at Mozo’s Experts Choice Awards to be named Home Lender of the Year 2015.
Market leading online lender loans.com.au will pass on the full 0.25 percent rate cut to existing customers following the RBA’s announcement on Tuesday.
The Official Cash Rate, as determined by the Reserve Bank of Australia (RBA), is now at an historic low of 2.25 per cent.