The reasoning behind the increase is to build up cash reserves and various other reasons that don’t really relate to this.

Beside the increase in rate, the banks are offering very attractive rates on their fixed rate loans. If you have an investment property, you should take a few minutes to check what rate your loan has been increased to and have a look at fixing for a period. It could be a good move.

If you need any more information or assistance please email rob@rwfs.com.au or call me on 0402 203 303.