Rates Dropped!

Home loan owners will be extremely happy after it was announced on Tuesday that rates will be dropped for the second time this year, at an all-time low from 2.25% to 2% meaning that there will be more money in mortgage holder’s pockets.

The all-time low will mean that home owner’s with a mortgage will save an acknowledgeable amount of money per month.

Savings per month for a mortgage of:

–          $500,000 – $74 saved

–          $400,000 – $59.79 saved

–          $300,000 – $44.84 saved

–          $200,000 – $29.90 saved

The record drop in interest rates is predicted to create an absolute buzz in the real estate market, causing the already hot property market in Australia, to get even hotter. It seems that now is definitely the right time to be investing your money into real estate, although it is predicted that the next movements in interest rates will be on a rise in early next year.

Low rates are being expected to create and encourage investment, economic and employment growth. Take advantage, borrow more money and invest especially in things that create jobs!