Cash rate down 50 points

In what many believe is a belated reaction the RBA has virtually admitted that they misread the economy and have announced a reduction in the cash rate of 50 basis points down to 3.75 per cent.

The question will now be, how much will the lenders pass on to borrowers.

There can be no doubt that the home market throughout most of the country is very flat with both home buyers and investors very hesitant to commit.  Let’s hope this rate reduction will bring back some confidence and stimulate some home loan activity.

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