The Real Estate Institute of Australia (REIA) has welcomed today’s Reserve Bank of Australia’s (RBA) second rate cut for this year, which has dropped the official interest rate to a new record low since the late 1950s.
REIA President, Neville Sanders, says “With an official interest rate of just 2.0%, most home owners can expect to be paying an average of 5.3% and so the RBA Board’s decision will help home owners on an average loan by around $70 per month but the lenders need to pass on this rate cut to borrowers in full.”
“The recent low rates have allowed many Australians to enter the property market, however borrowers should remember that interest rates will inevitably rise as the economy strengthens and they should not overreach themselves,” added Mr Sanders.
REIA News – March – April 2020
STATES AND TERRITORIES TO ORGANISE RENTERS AND TENANTS
FAIR WORK COMMISSION ASKED TO VARY AWARD TO KEEP REAL ESTATE AGENTS EMPLOYED
REIA PRESIDENT SLAMS LABOR PARTY COMMENTS
MORATORIUM ON RENTS IS NOT A FREE RIDE
A MESSAGE FROM REIA PRESIDENT ADRIAN KELLY REGARDING TENANTS AND THEIR RENT PAYMENTS
REIA RESPONSE TO WAGES SUBSIDIES
RESPONSE TO PRIME MINISTER’S ADDRESS ON TENANCY