Home-seekers get that winning feeling

Yesterday the Reserve Bank made the announcement many anxious Australians were holding on for and the news was sweet, with interest rates being cut to 5.25%. The rate cut will shave off around $150 from monthly repayments on an average $300,000 mortgage. For home buyers and builders this is good news which will hopefully infuse some optimism in a recently uncertain economic climate. However, it may take a few months for home buyers to act as many may sit back and see what happens until the new year. Despite cautious attitudes, there is certainly reason for renewed positivity for first home buyers since the Reserve Bank cut interest rates.

The Age, 5th November