Interest Rates – What Do You Think 2011/12 Will Hold?
With the announcement this week of the cash interest rate staying put, it made us think about what the effects of changes in interest rates will bring for the new financial year.
There’s definitely been a lot of speculation in the media about the chance of rates going up in the near future, incredibly up to 9.25 per cent by this time next year! Whilst the immediate future predictions aren’t quite as drastic, it does beg the question as to when these increases are supposed to start hitting us.
If you’re looking at purchasing a property with finance, we’d suggest talking to your mortgage broker about your options. We can’t offer financial advice, but if interest rates are set to increase, fixed home loans might be a good option.
What do you think the 2011/12 financial year will hold for home loan interest rates? Do you think the cash rate will remain steady, and will that mean banks keep home loan rates steady too? It’s an interesting discussion.