Interest Rate Cuts December

downloadThe Reserve Bank board cut the official interest rates from 3.25% to 3.0% at their meeting this month. This means the cash rate has dropped to the same level as April 2009.  Most lenders have passed on some of the rate cut however only a few lender have passed on the total cut. There has been a lot of activity in the finance market over the past month, including lenders offering $1,000 rebates for clients who refinance their loans, whilst fixed rates remain at historical low levels.

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