What the rate cut will mean to you!

Hooray, we have finally received some relief on the bank account with the RBA announcing a rate cut to 4.1%.

But what does this mean for you?

In an article published in the Toowoomba Chronicle on 14 February 2025, it meant that homeowners could save as much as $400 per month.

It was reported that markets where now pricing in four interest rates cuts this year, which means that household savings could increase by $1640.

So while current mortgage holders get relief, it could be bad news for buyers, as rate cuts normally increase borrowing capacity for buyers and leads to more buyers in the market, and then leads to increases in property prices.

However, that is great news for property owners who are looking at selling as they will get more money for the properties that they are selling.

For all mortgage holders, let hope that the markets are on the money and there are 4 interest rate cuts this year.  Fingers crossed!