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Cash Rate Retention Great News For Home Loans in Caboolture

By James Brown

Seeking home loans in Caboolture could be easier over the coming month, as the Reserve Bank of Australia (RBA) has decided to retain the official cash rate at 2.5 per cent. This could be great news for anyone interested in purchasing real estate in the region. 

RBA Governor Glenn Stevens said the resulting low interest rates across the nation have been a great incentive across credit products – including mortgages. This can also be seen in the rising number of housing finance deals and property approvals being passed, as more people begin to flock towards the real estate market. 

Housing Industry Association Economist Geordan Murray said the retained cash rate was expected across the real estate industry, with many expecting it to last for a while heading into the coming months. 

"While noting the domestic economic growth has been below-trend, the RBA statement suggests the Board's confidence has been buoyed by positive developments in the household sector, most notably the strong leading indicators for residential construction," said Mr Murray in a May 6 statement. 

With these levels of growth occurring across the nation, now could be a great time to consider purchasing property in Caboolture. 

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