2017 has gone by in a flash! With less than 5 weeks until Christmas it’s time to reflect on a few of the major developments of the year in the world of finance and interest rates.
- RBA cash rate has remained unchanged since August 2016
- Bank Base rates remain at record lows.
- Owner Occupier rates with an LVR (Loan to Value Ratio) of 80% or less are still being offered in the high 3%’s.
- Owner Occupier fixed rates remain in the high 3%’s.
- Both Investment and Owner Occupier ‘Interest Only’ loans continue being targeted and are priced-up by 1% or more than ‘Principle and Interest’ loans.
- Attractive refinance campaigns continue being offered with ‘cash-backs’ still available
- Business and Commercial interest rates remain competitive.
2017 has certainly been the ‘year of the refinance’, with record low interest rates and so many incredible specials being offered in residential and business lending. I anticipate 2018 to start the same way but there is talk of interest rates increasing next year.
If you haven’t reviewed your loans and lending in 2017 then I encourage you to do it soon, to avoid missing out.
Feel free to get in touch with Bez Esquivel– Abbotts Finance Brokers to assist you in any financial matters.