Securing home loans in Caboolture has never been a better idea, with the official cash rate remaining at the historically low level of 2.5 per cent for at least another month following the Reserve Bank of Australia's (RBA) decision earlier this week (March 4).
The cash rate affects how much interest financial institutions are charge with regards to the loans they provide to clients. The lower the cash rate, the lower their payments are, with the savings often passed on to clients in the form of reduced interest rates in order to capture the market and remain competitive.
In a statement released by the RBA, Governor Glenn Stevens said the nation's financial conditions were in a great position, with the retained monetary policy staying in place in order to further stimulate the country's economic development.
This could be great news for anyone looking into houses for sale in Bellmere, Burpengary real estate or any property in the surrounding region.
Housing Industry Association (HIA) Economist Geordan Murray said the decision was good for the nation's housing industry activity, highlighting growths occurring in new home sales and residential building sector across the nation.