RBA CUTS CASH RATE TO UNPRECEDENTED LOW OF 0.1%
Today’s cut takes the cash rate target to an unprecedented low. If passed on by the banks, which is highly likely, we will see mortgage rates fall further from their already record lows. Historically cuts to interest rates have fuelled housing market activity and generally aligned with upwards pressure on dwelling prices. With the trend in housing values already rising around most areas of the country, there is a good chance lower rates could see momentum building across the nation’s most valuable asset class.