Even if you don’t own a home, it’s hard to avoid the chatter about interest rates and whether they’re going up or staying put.
Already this week, four banks have announced they’re lowering mortgage rates - ahead of the Reserve Bank’s Official Cash Rate announcement next week.
While there’s a broad consensus that the Reserve Bank is likely to drop the cash rate, we don’t know for sure that will happen.
So, do the banks know something we don’t? Or are they just taking a punt, hoping to sign up a few more borrowers before their competitors do?
Someone who knows a lot about mortgages - and personal finance in general - is financial journalist Frances Cook. She joins Emile Donovan.
A collection of varied percentage signs displayed together. Photo: Unsplash/ Li Rezaei
