Real Estate Institute of Australia (REIA) President, Ms Pamela Bennett says today’s decision by the Reserve Bank of Australia (RBA) to cut official interest rates by 0.25 percentage points to 3.25% is a great relief for home owners and potential buyers.
“Home-owners always like to see interest rates go down. This cut means the average loan repayment is reduced from $2,155 to $2,105 or by $50 per month.”
