Fixed Rates to fall after RBA keeps interest rates on hold.

Interest rates remain on hold at 4.75% this month after the Reserve Bank of Australia made their decision yesterday afternoon.

Later that day Commonwealth bank further reduced its 1 and 3 year fixed rates from the previous month. It looks like other lenders are to follow as the weeks go by. I will keep you updated with the latest fixed rate offerings over the coming weeks otherwise contact one of our mortgage brokers.

Fixed rate falls also suggest that the variable rate is likely to drop in the coming months and some economists are predicting an interest rate reduction before Christmas. Economists predictions should be taken with a grain of salt. Short term predictions – 6 months of less – are often accurate but beyond 6 months making predictions is just like gambling.