well I hope so anyway. It will all depends whether our bank actually follow the Aust reserve bank (RBA)and lower our mortgage rate.
Today the RBA lowered the interest rate another 25 basis points. This is now 2 months in a row that they have lowered the rate. This decision is mainly because of all the drama in Europe and also some talk about higher unemployment next year.
If our bank does cut our rate in full it will bring our mortgage rate down to 6.61 percent. I have my fingers crossed that they will follow the RBA. They don't always do it because they can get a bit greedy, typical of banks!
$25-$30 a month saving
December 6th, 2011 at 06:13 am
December 6th, 2011 at 09:45 am 1323164724