LAST TUESDAY, the RBA left the cash rate on hold — much to the surprise of most pundits. And yet, only the week before, that’s exactly what I suggest would happened.
You might also remember I suggested that you lock in a fixed rate mortgage — because it was then about 1% below the variable mortgage rate.
Many scoffed, and said that rates will continue to come down. Well, the past 7 days have certainly put paid to that theory — with the big 4 Banks raising their rates, quite out of step with the RBA. [Read more…]