Rate Drop Offers Mortgage Relief to Homeowners

March 24th,2014

The Real Estate Institute of Australia (REIA) says the Reserve Bank of Australia (RBA) has provided homeowners with mortgage relief by cutting the official interest rate by .25 percentage points to a historic low of 2.5 per cent. The RBA has slashed official rates by a total of 2.25 per cent since this cutting cycle began in November 2011.