Interest rates on hold: what does it mean for the property market?
It seems that interest rates could stay lower for longer, which is good news for the property market, mortgage holders in particular. But the outlook is less certain for first-home buyers.
Low inflation data suggests interest rates likely to remain low: REIA
Inflation rose 0.2 per cent in the June quarter, making an annual increase of 1.9 per cent, suggesting that interest rates will remain low for some time, says Malcom Gunning, president of the REIA.
Despite most economists predicting the Reserve Bank board will leave rates on hold at today's board meeting, many Australians expect mortgage rates will rise this year, and are considering switching to fixed rate loans.
National Australia Bank is the first of the big four banks to raise owner-occupier home-loan rates, lifting the rate by 7 basis points to 5.32 per cent.
