how to get a reduced mortgage ahead of the peak spring property market domain
Share this @internewscast.com

A July mortgage rate cut is “in the bag,” according to financial comparison experts.

Almost 88 percent (30 out of 34) of specialists and economists participating in Finder’s RBA Cash Rate survey predict that the Reserve Bank will lower the cash rate in July to 3.60 percent.

If the banks pass the rate cut, it would save Aussies with a $500k mortgage around $1613 per year.

Australians with a mortgage of $1 million will save an average of $269 per month, or $3226 per year. 

Head of Consumer Research at Finder Graham Cooke said another rate cut would give mortgage holders a much-needed confidence boost.

“We’ve seen two cash rate cuts already, but homeowners are chomping at the bit for more,” he said.

“As inflation continues to decline, it’s expected that the RBA will make a rate cut, and banks will face significant public pressure to implement the full rate reduction again in July.”

how to get a reduced mortgage ahead of the peak spring property market domain
Australians with a mortgage of $1 million will save an average of $269 per month, or $3226 per year.  (9News)

Matthew Peter from investment firm QIC said “a July cut is in the bag”.

“Underlying inflation is within the RBA’s target band and falling, consumer spending is disappointing and the market is expecting a rate cut.

“No reasons for the RBA to wait,” Peter said.

The majority of experts who spoke to Finder also said they are predicting another rate cut in August.

Just over half of the experts polled also predicted a rate cut in November.

The information on this website is intended to be general and does not provide personal financial advice. It has been prepared without considering your individual goals, financial situation, or needs. Before using any information from this website, you should evaluate its relevance based on your own objectives, financial circumstances, and requirements.

Share this @internewscast.com
You May Also Like
Family business 'owed thousands' by couple's fast food franchise

Family Business Claims Owed Thousands by Power Couple’s Fast Food Franchise

A company owned by a former Adelaide 36ers player and a Miss…

Hidden “Ghost Stores” Deceive Australian Shoppers

A warning has been issued to Australians to remain vigilant about “ghost…
Rod Stewart has candidly opened up about how his split from his ex-wife Rachel Hunter (both pictured in 1998) 'tore him to shreds'

Rod Stewart, 80, Reflects on Heartbreaking Split from Ex-Wife Rachel Hunter, 55

Rod Stewart has candidly opened up about how his split from his…
Michael Madsen, 'Reservoir Dogs' and 'Kill Bill' star, dies at 67

Michael Madsen, star of ‘Reservoir Dogs’ and ‘Kill Bill’, passes away at 67

Michael Madsen, whose menacing characters in “Reservoir Dogs” and “Kill Bill” made…

Fran Hurndall’s 3,800km Run Across Australia: A 60-Day Journey

This article contains references to domestic violence. When Fran Hurndall encountered the…
The pilot tried to circle back and attempt to land the plane but was unsuccessful, he said at a news conference Wednesday evening.

Skydiving Aircraft Carrying 15 Passengers Veers Off Runway at U.S. Airport

A skydiving plane carrying 15 individuals veered off the runway at a…
Ozempic-style drug could be used to treat migraines, research finds

Research Suggests Ozempic-Like Drug May Help Treat Migraines

Recent research indicates that a drug similar to Ozempic might hold the…
Australian aircraft and submarines.

Experts Warn: Simple Drone Attacks Could Threaten ADF Ships, Planes, and Submarines

Most of the Australian military’s most expensive planes, ships and submarines are…

Severe Rain and Wind on NSW East Coast Prompt Evacuations and Emergency Alerts

Hundreds of homes are flooded or have been evacuated, and thousands of…

Sean ‘Diddy’ Combs Cleared of Sex Trafficking Charges, Faces Other Convictions

Key Points Sean Combs was found guilty on two counts of transporting…
Shirley-Anne Gardiner (centre) with other Momentum Mental Health staff members.

Concerns Arise for At-Risk Australians as Mental Health Provider Faces Uncertainty Due to New Hub Initiative

More than 800 vulnerable Australians are “in limbo” as the mental health…
Millions of Australians are expecting an inheritance and feel dependent on the windfall to achieve major financial goals such as buying a house or retiring.

Many Australians depend on an inheritance to meet significant financial objectives

Many Australians are counting on an inheritance to help reach significant financial…