News
The Reserve Bank has opted to hold interest rates steady
Date: 6 July 2010
After six consecutive increases since last September, The Reserve Bank has kept the official interest rate steady for the second month in a row at 4.5% after the board met earlier this week. This decision to leave interest rates on hold was welcomed by Adam Drummond, Director of Fitzpatricks Real Estate.
Mr Drummond stated the whole market place from the retailing industry to the real estate industry would welcome the news.
Interest rates are still considered to be below long term historical levels and Mr Drummond believes the decision to hold rates is an indication by the Reserve Bank, that they have now controlled the inflationary trend of the economy. This is good news for real estate and business owners with current loans and for those people wanting to enter the real estate market.
The general consensus from the various market analysis indicates the rapid rise in interest rates is now behind us, making this as good as time as any to buy Wagga real estate.