Low Interest Rates Predicted to Continue
Low interest rates are making it a great time for you to enter the property market, and according to recent data, chances are rates will remain low for the foreseeable future.
The Real Estate Institute of Australia (REIA) recently commented on the fact that the Consumer Price Index (CPI) increased during the final quarter of 2013.
"In the December quarter, the consumer price index rose by 0.8 per cent and annual inflation rate is now 2.7 per cent," said Peter Bushby, president of the REIA.
"These figures are well within the RBA's target zone of 2-3 per cent."
Mr Bushby went on to say that with inflation "well under control" and the economy performing at a subdued pace, it's more than likely the Reserve Bank of Australia will keep interest rates at their presently ultra-low level.
This is great news for mortgage borrowers, as continued low interest rates means it will be much more affordable to take out a home loan and pay it off.
However, finding the right professional help is still essential if you want a mortgage that suits your needs.
If you're looking for a mortgage broker in Double Bay or surrounding areas, contact Daniel Pym and I'll assist you in finding the right home loan product.