July RBA Announcement

The RBA has announced they will leave interest rates on hold for the Month of July, still sitting at 4.1%.

But that’s not to say the banks will not continue to increase your rates for the month of July.

Most lenders last month increased their rates from 10bps up to 60bps*.

Even though there was only a 25bps increase form the RBA, each lender will increase or decrease their rates to adhere to their appetite.

So don’t be fooled by the July RBA announcement, that does not necessarily mean you are safe from another rate rise with your bank.

At AMB we are recommending you continue to review your mortgage and as a mortgage broker we do all the hard work for you.

Even if rates are plateauing for now, you could still be saving on your existing rate.

If your mortgage has not been reviewed within the last year or more, chances are you are paying too much!

Enquire today via our link: https://www.ambfs.com.au/

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