Finance
Reserve Bank of Australia cash rate - February 2018
FEBRUARY'S CASH RATE STAYS UNCHANGED AT 1.50 PER CENT
Interest rates may be on hold for now but they are tipped to go up this year. In any case, your bank can increase their rates regardless of the RBA’s monthly decision.
How will your repayments change with a higher rate?
As a property owner, you don’t have to sit and wait in hope that the bank or RBA will move rates in your favour. If you want to save on your interest repayments, ask your bank for a better deal or talk to one of Lendi’s Home Loan Specialists who can show you exactly what is on offer from more than 35 lenders. You might be surprised by the difference between what your bank is charging you and what is on offer in the market.
How much can you save with an offset account?
Find out how much you could save each month.
So, what is the RBA cash rate update?
On the first Tuesday of every month (except in January), the Reserve Bank of Australia (RBA) sets the cash rate. They decide whether to raise it, lower it or leave it the same, depending on a number of factors, including the performance of the Australian dollar, the state of the housing market and inflation.
The last time the cash rate rose was in November 2010. Since then, the general trend has been for the rate to remain the same, decreasing only every so often. The last decrease was in August 2016.
Can the RBA cash rate update affect my home loan repayments?
Keep an eye on your lender’s rate because even the slightest interest rate rise can make a considerable dent in your monthly budget. If you do find yourself struggling with increased repayments, speak to a Lendi Home Loan Specialist about switching your loan to a lower rate option.
Are you suffering from mortgage stress? Read our tips on how to avoid it altogether.
How much can you save by consolidating debt?
Roll your credit card, car or personal loans into your home loan.
Tags: rba cash rate, reserve bank, interest rate, refinance, new purchase
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Important legal stuff
Lendi is the trading name of Lendi Pty Ltd (ACN 611 161 856), a related body corporate of Auscred Services Pty Ltd (ACN 164 638 171, Australian Credit Licence 442372). We will never sell your email address to any third party or send you nasty spam, promise.
# Quoted rate applies only to PAYG loans with LVR of 80% or less with security in non-remote areas. All applications are subject to assessment and lender approval.
Lendi is a privately owned and operated Australian business. Our mission is to change the way Australians get home loans by providing a faster, smarter and more secure home loan experience designed around the customer’s convenience and needs. Although Lendi compares over 1600 products (2,500+ products including feature and pricing variations) from more than 25 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. Lendi Group Pty Ltd, which is the ultimate holding company of the Aussie and Lendi businesses is owned by numerous shareholders including; banks such as CBA, 1835i (ANZ’s external venture capital partner) and Macquarie Bank, the Lendi founders and employees, and a number of Australian institutional investors and sophisticated investors including UniSuper.
*WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years. Fees and charges apply. All applications are subject to assessment and lender approval. Quoted rate applies only to PAYG loans with LVR of 80% or less with security in non-remote areas. All applications are subject to assessment and lender approval.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria. Top rates include lenders who are on our panel and are then defined by the circumstances provided by the borrower.
The Lendi Group Pty Ltd, which is the ultimate holding company of the Aussie and Lendi businesses is owned by numerous shareholders including; banks such as CBA, 1835i (ANZ’s external venture capital partner) and Macquarie Bank, the Lendi founders and employees, and a number of Australian institutional investors and sophisticated investors including UniSuper.
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