Rates have come down and are expected to do so further.. maybe later in the year
Whilst we have seen 2 rate cuts and most expect another couple later this year there is uncertainty in the global market that may see economy contract which may in turn create the conditions where interest rates need to come down further, but concerns around stoking inflation persist which may mean they (central banks) can’t do this.. so it’s highly unclear where all this is going.This was clearly seen in the shock decision by the RBA to hold rates in July, pretty much no one called that!
As well as this, short term (2 - 3 year) fixed rates are sitting around 50bp (0.5%) below variable which has created the conditions for a 'fixed / variable' strategy we developed at UNO that could save you thousands, more on that strategy in this 1 min video.
Our guidance remains as always you should review if you financed/refinanced over 12 months ago and at least every 6 months generally.
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