Brokers prepare for RBA announcement

by Mackenzie McCarty05 Mar 2013

Whether or not the RBA decides to cut the official cash rate at today’s meeting will have a direct impact on broker business - and many in the industry will be ready to man the phones as soon as the decision is announced.

1st Street Home Loans director, Jeremy Fisher, says in a market environment that continues to change, he needs to be consistantly prepared for any new developments.

“Our brokers are ready to field calls from clients asking for loan assessments and we have been in communication with lending managers around their current timeframes to prepare for potential loan adjustments if the rate is lowered.”

Fisher says he doesn’t expect the RBA to change the cash rate this month, but says the decision will nevertheless have an effect on his business.

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