1800 877 741 Every Monday 6:30PM - Channel 31
1800 877 741 Every Monday 6:30PM - Channel 31
The cash rate decision for March has been announced by the RBA with a rate cut.
The RBA has reduced the cash rate to a new record low of 0.50% in response to the economic threat posed by the coronavirus outbreak and bush fire crisis.
Whilst the Reserve Bank would have been encouraged by recent economic data confirming continued house price increases and business investment, the dangers to the economy posed by the virus and fires and fears of a recession left the RBA with little option but to reduce rates.
Here is a table showing how Australia’s average mortgage sizes may be affected:
Loan Amount Examples Likely decrease in repayments
$150,000 $21.45 per month
$250,000 $35.75 per month
$350,000 $50.05 per month
$450,000 $64.35 per month
$550,000 $78.65 per month
$650,000 $92.95 per month
Lenders continue to review rates independently of the RBA with some already making reductions in anticipation of the RBA decision. It is therefore important to review your lending options regularly to ensure they remain the most suitable for your situation.
There may be different rates available from our wide panel of lenders and the Dollars With Sense team is always available to ensure you have the right financial solution for your current and future circumstances.
If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.

Testimonials

I highly recommend Dallas and his team of experts at Dollars with Sense to everyone out there who wants to be more adept at financial matters. They provide great insights about investing and planning for the future. With their sensible tips, my super fund is on track to giving me the ideal lifestyle I look forward to. I have security and peace of mind, which is priceless!

SARAH F

One of the things I appreciate the most about the Dollars with Sense team is how they are so honest about financial matters. They are not after promoting a certain kind of investment, but rather, they always emphasise what an average person should consider before jumping into a financial commitment. Dollars with Sense truly opened my eyes towards property investment, and I am so grateful that I get no-nonsense tips from these experts. I hope that Dallas and the team will continue to guide us in all money matters!

LEANNE J