Mortgage brokers join economists on RBA cash rate predictions

Mortgage brokers have joined the view of economists that the RBA cash rate will remain at 2.5 per cent for the rest of the year.

The opinions come from a poll held by The Adviser, in which 65 per cent of brokers expected the cash rate to be unchanged by Christmas. 

On the flipside, just four per cent thought the rate would be higher. Another four per cent said they were unsure, and 27 per cent thought the rate would even come down further. 

25 economists surveyed by all predict rates to remain unchanged this month and they also agreed that the next move, whenever that may be, would be up. 

Peter Cooper from Cooper Financial Connections told The Adviser the media put too much emphasis on interest rates. 

“It’s not about the cheapest rate, cheapest fee,” he said. 

“It’s about individual circumstances.” 

“You can still get the best fee and rate for your individual circumstance, but you don’t go chasing cheap rate, cheap fee at the expense of being at the wrong product at the wrong time.”


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