Brokers prepare for RBA announcement

by Mackenzie McCarty05 Mar 2013
“If it is decided that rates are to be reduced there will be potential opportunities for clients to refinance and take advantage of a lower rate on their loans. Mortgage brokers may contact particular clients in these circumstances or the clients may contact their broker for a loan evaluation.”

Should the cash rate be lowered further, Fisher says he thinks some lenders will be prepared to follow suit.

“If there is a cash rate cut, some lenders will take the opportunity to pass on a full reduction in their rate to attract new customers but, as is often the case, the banks have a very structured approach to setting their rate and the cash rate is just one aspect in their equation.”


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