The RBA has announced that the cash rate will remain unchanged for July with the rate remaining at 0.25%.
The RBA is mindful of rising concerns around unemployment post-JobKeeper, falls in housing and home loan approvals, decreasing property values and decreasing credit growth. The RBA maintains the stance that negative interest rates are not the best option for the economy at this point.
If the COVID-19 crisis is affecting your financial situation, please get in touch so an AFG broker can formulate a plan to manage your loan repayments during these unprecedented times.
With lenders continuing to offer very competitive rates, an AFG broker can help review your situation to ensure you have the right loan for your circumstances.
If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to get in touch with an AFG broker.