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Latest interest rate cut to benefit home buyers

6. May 2015 22:09  /  swanvalleyrealtyblog Comments (0)


The following article appeared in REIWA.com news on 6 May 2015…

“The Reserve Bank of Australia’s (RBA) decision to lower interest rates by a further 25 basis points to two per cent has been welcomed by the Real Estate Institute of Western Australia. 

REIWA President David Airey said the rate cut presented home buyers with financial approval with a very good opportunity. 

“There’s plenty of property to choose from in our sluggish market, with sales down by around 11 per cent on last year. 

“People who have put off buying might now be enticed to act with such low interest rates and huge competition to lend,” Mr Airey said. 

RBA Governor Glenn Stevens said the Board judged that inflation outlook provided the opportunity for monetary policy to be eased further and to reinforce recent encouraging trends in household demand. 

Yesterday’s interest rate cut is the second this year, following the 0.25 per cent drop in February.” 
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