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Hi ,
This month the Reserve Bank of Australia (RBA) has kept
the official cash rate at the historic low of 0.25 per cent.
RBA governor Philip Lowe said in the previous meeting that the RBA is prepared to scale up its bond purchases if needed. They will do whatever necessary to ensure bond markets remain functional and achieve the yield target of 0.25 per cent on 3-year Australian Government bonds until progress is made towards full employment and inflation. The RBA is confident that inflation will be sustainably within the 2-3 per cent target band.
With this announcement, it is likely interest rates will remain low for a while. Now is the perfect time to compare available home loans to make sure you’re still getting a competitive offer that suits you. Get in touch today so we can get started!
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| Reserve Bank of Australia Cash Rate Announcement |
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| RBA |  | 0.25% |
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All dwellings
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Auctions / clearance rate
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Private sale
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Monthly Home Values
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VIC
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139 / 73%
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841
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▼ ‑ 0.91 | |
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NSW
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224 / 73%
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1200
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▼ ‑ 0.42 | |
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ACT
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11 / 82%
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86
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▲ 0.55 | |
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QLD
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72 / 46%
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650
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▼ ‑ 0.08 | |
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WA
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7 / 43%
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284
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▼ ‑ 0.56 | |
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NT
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1 / 100%
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13
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▼ ‑ 1.59 | |
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TAS
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0 / 0%
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95
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▲ 0.77 | |
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SA
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17 / 82%
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228
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▲ 0.45 | |
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Aspire Mortgage & Finance Pty Ltd Credit Representative 481401 is authorised under Australian Credit Licence Number: 389328 | ABN: 76608860108
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Monthly Home Values figures as at May 31, 2020. Australian auction results,
clearance rates and recent sales for the week ending May 31, 2020. The clearance rate is preliminary and current as at 10:00 am, June 1. We recommend that you seek independent financial and taxation advice before acting on any information in this email. It contains general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. Interest rates are subject to change without notice. Lenders terms, conditions, fees and charges apply.
Sources: CoreLogic RP Data Daily Home Value Index: Monthly Values, www.realestate.com.au, www.rba.gov.au/media-releases/2020/mr-20-13, www.rba.gov.au/monetary-policy/rba-board-minutes/2020/2020-05-05 |
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