What are the Banks saying?

Home loan borrowers, investors and business owners in Australia may well be wondering where interest rates will go next, after what seemed an unending monthly increase in rates. The RBA has held the official cash rate at 4.35% now for 6 months and if we turn to the Banks for some insight for predictions, you could rightly say – it’s anyones guess!

  • CBA – predicting a 25bp interest rate cut in 2024 and 1% rate cut during 2025.

  • NAB – interest rates have hit a peak until November 2024, then a likely reduction in 2025 of up to 1.25%.

  • ANZ – reduction late 2024 and 0.50% rate cut in 2025.

  • Westpac – 2 rate cuts this year (after September).

  • Judo Bank – believes that there will be 3 rate rises this year.

  • Macquarie Bank – hedging their bets – rates expected lower towards end of this 2024 and if inflation goes higher, they expect 2 rate hikes.

Not sure if you have the best loan that you could get?

Our team of professional mortgage brokers and finance brokers for commercial loans here on the Central Coast can assist you in review and refinancing of your loan, if that proves to be a worthwhile option.

Moreover, here at AAP Finance Brokers Central Coast provide guidance and clarity on understanding what is involved with the finance options we suggest. Contact our local Central Coast mortgage team to discuss.

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