Melbourne Cup Day: Will the RBA Raise Rates Again?
Tomorrow, Australia’s attention will turn to more than the Melbourne Cup. The Reserve Bank of Australia will announce its interest rate decision on Tuesday 3 November at 2:30 pm AEDT, with a possible rate rise in focus.
The decision is yet to be confirmed, but now is a good time to review your home loan and prepare for what comes next.
What could this mean for you?
For existing homeowners: If the RBA raises the cash rate and your lender passes it on, variable repayments could increase. Reviewing your loan could help identify a more competitive option. When considering refinancing, weigh potential savings against switching costs and the remaining loan term.
For first home buyers: Know your borrowing capacity, budget for possible rate changes and explore any first home buyer assistance you may qualify for. Preparation can help you move forward with confidence.
How Spark Mortgage & Finance Can Help
At Spark Mortgage and Finance, we make your lending options easier to understand. We can review your current loan, compare options from our lender panel and guide you through buying your first home or refinancing. Book a home loan review today and find out whether your loan still works for you. "General information only. Your circumstances should be considered before making a decision. Loan approval and assistance schemes are subject to eligibility criteria. Fees and charges may apply."