With this decision by the RBA, financial experts believe that although not all banks have lowered their variable rates accordingly, they are expecting that this will compel more lenders and financial institutions to comply with the specific cut.
Perth, Western Australia (PRWEB) May 17, 2012
The Mortgage Gallery Rockingham, considered by many financial analysts to be among the top mortgage broking companies in the country, has announced plans to help its current and prospective clients make the most out of the latest interest rate adjustments provided by the Reserve Bank of Australia (RBA).
According to a recent report, the Reserve Bank of Australia is set to lower its cash interest rate to just 3.75%, which many consider as a welcome development - most especially for homeowners who have been besieged by high interest rates and financial difficulties.
With this decision by the RBA, financial experts believe that although not all banks have lowered their variable rates accordingly, they are expecting that this will compel more lenders and financial institutions to comply with the specific cut. Financial forecasts show that this will result to numerous benefits in the retail and housing industry.
A national survey was conducted showing a large chunk of respondents planning to take advantage of this reduced interest rate by increasing their repayments for their mortgage. This means that consumers and home owners will be able to continue paying the same amount of money for their obligations – only, with interest rates that are considerably lower than what they pay for in the past. This means, one is able to make the most out of his investments and his money accordingly.
The rest of the survey shows respondents opting to increase their savings, engage in refinancing and spend their extra cash.
Many financial analysts likewise believe that aside from this rate cut by the Reserve Bank of Australia scheduled this May - there may also be another rate cut that will follow in June; this is to address the financial issues hounding countries in Europe and other areas of the world.
Experts now attest that homeowners and consumers must use these lowered interest rates to their advantage, especially those who have already procured mortgages on their properties and those who are planning to do so.
In view of these, The Mortgage Gallery Rockingham, in support of its clients who are looking for the right Home Loans in Cockburn, Kwinana, Rockingham, Perth and surrounding areas - has decided to aid clients maximise their investments.
The Mortgage Gallery Rockingham has efficient and reputable mortgage brokers engaging in ethical and productive practices for all of its current and prospective clients. If you want to ask about the company and their services, please call (08) 9527 1800 or you can visit their site at http://www.themortgagegalleryrockingham.com.au/.