At its December meeting the Reserve Bank of Australia decided to lower the cash rate by 1.00% (or 100 basis points) to 4.25% in an early Christmas present for borrowers. As a result, this will reduce the average $350,000 home loan repayment by around $221 per month.
If you are are looking to enter to take out a home loan now that interest rates are substantially lower than 6 months ago then don't forget to get your Good Loan Guide for all your home loan help. Just visit http://www.goodloanguide.net/ for details.
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