Well we have an early Christmas present, the RBA at its monthly meeting today decided to reduce the cash rate buy another full one percentage point. We hope lenders will pass this on in full to all variable mortgages. There is no guarantee they will but market forces will see that we are at least passed on a majority, individual lenders will decide over the coming week exactly how much they will pass on. Along with falling fuel prices we may have a healthier wallet/purse this Christmas.
I know I harp, but I would encourage you to keep the payments on your mortgage at the current higher level if possible to quickly advance your loan. Even if you take half for a little bonus and commit the other half to extra payments this will help you greatly in the future.
The Reserve bank do not meet again until the first Tuesday in February, so I would like to take this opportunity to wish you all a safe and happy Christmas. I will be on leave from 22nd December until 12th January.
I know I harp, but I would encourage you to keep the payments on your mortgage at the current higher level if possible to quickly advance your loan. Even if you take half for a little bonus and commit the other half to extra payments this will help you greatly in the future.
The Reserve bank do not meet again until the first Tuesday in February, so I would like to take this opportunity to wish you all a safe and happy Christmas. I will be on leave from 22nd December until 12th January.
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