The first announcement for 2015 has just been released by the Reserve Bank of Australia. Today the RBA’s board meeting resulted in a decreased cash rate of 25 basis points, leaving the official rate at 2.25%
This decision most likely comes from growing concerns about employment, flattening property prices and affordability for first home buyers. For those that have a loan of $150,000 will be likely to see a decrease in payments of around $31.25 per month whilst those with a loan of $650,000 will see a likely saving of $135.41 per month.
For more information head to the RBA website here.