After a long time since the last increase in interest rate of the Reserve Bank of Australia(RBA), it’s finally happened. Knowing that a lot of people are concerned about their mortgage repayments, it’s only timely and appropriate that we discuss on this podcast the impact this increase will have on your personal cash flow as well as the broader economy.
The RBA’s decision to increase rates has largely been definitely driven by rising inflation and a decrease in unemployment. While this is still at historically low levels at 0.35% we will examine what impact this rise and any subsequent rises will have on your circumstances.
While the interest rates continue to increase, we hope this episode brings some clarity and further certainty about times ahead!
This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• Why the RBA increased Interest Rates
• The 0.25% Increase
• Impact of interests rates on financial Markets
• The Impact on Property Prices
• How increased interest rates will impact home loan repayments
• Examples of applying expected changes to interest rates on loans
