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Rate Rises

RBA increases rates by 0.25%

March 7, 2023 in Latest News, Rate Rises

The Reserve Bank Board has announced today a further 0.25% increase to the Official Cash Rate.

Below is the Media Release from the RBA.

Media ReleaseStatement by Philip Lowe, Governor: Monetary Policy Decision

Number2023-07Date7 March 2023

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.60 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.50 per cent.

Global inflation remains very high. In headline terms it is moderating, although services price inflation remains elevated in many economies. It will be some time before inflation is back to target rates. The outlook for the global economy remains subdued, with below average growth expected this year and next.

The monthly CPI indicator suggests that inflation has peaked in Australia. Goods price inflation is expected to moderate over the months ahead due to both global developments and softer demand in Australia. Services price inflation remains high, with strong demand for some services over the summer. Rents are increasing at the fastest rate in some years, with vacancy rates low in many parts of the country. The central forecast is for inflation to decline this year and next, to be around 3 per cent in mid-2025. Medium-term inflation expectations remain well anchored, and it is important that this remains the case.

Growth in the Australian economy has slowed, with GDP increasing by 0.5 per cent in the December quarter and 2.7 per cent over the year. Growth over the next couple of years is expected to be below trend. Household consumption growth has slowed due to the tighter financial conditions and the outlook for housing construction has softened. In contrast, the outlook for business investment remains positive, with many businesses operating at a very high level of capacity utilisation.

The labour market remains very tight, although conditions have eased a little. The unemployment rate remains at close to a 50-year low. Employment fell in January, but this partly reflects changing seasonal patterns in labour hiring. Many firms continue to experience difficulty hiring workers, although some report a recent easing in labour shortages. As economic growth slows, unemployment is expected to increase.

Wages growth is continuing to pick up in response to the tight labour market and higher inflation. At the aggregate level, wages growth is still consistent with the inflation target and recent data suggest a lower risk of a cycle in which prices and wages chase one another. The Board, however, remains alert to the risk of a prices-wages spiral, given the limited spare capacity in the economy and the historically low rate of unemployment. Accordingly, it will continue to pay close attention to both the evolution of labour costs and the price-setting behaviour of firms.

The Board recognises that monetary policy operates with a lag and that the full effect of the cumulative increase in interest rates is yet to be felt in mortgage payments. There is uncertainty around the timing and extent of the slowdown in household spending. Some households have substantial savings buffers, but others are experiencing a painful squeeze on their budgets due to higher interest rates and the increase in the cost of living. Household balance sheets are also being affected by the decline in housing prices. Another source of uncertainty is how the global economy responds to the large and rapid increase in interest rates around the world. These uncertainties mean that there are a range of potential scenarios for the Australian economy.

The Board’s priority is to return inflation to target. High inflation makes life difficult for people and damages the functioning of the economy. And if high inflation were to become entrenched in people’s expectations, it would be very costly to reduce later, involving even higher interest rates and a larger rise in unemployment. The Board is seeking to return inflation to the 2–3 per cent target range while keeping the economy on an even keel, but the path to achieving a soft landing remains a narrow one.

The Board expects that further tightening of monetary policy will be needed to ensure that inflation returns to target and that this period of high inflation is only temporary. In assessing when and how much further interest rates need to increase, the Board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.

RBA Rate Increase 0.50%

June 7, 2022 in Latest News, Rate Rises

The Reserve Bank has announced an increase of 0.50% for the Official Cash Rate.

This is the 2nd consecutive rate increase and was widely anticipated to be the RBA strategy to combat the inflationary pressures currently experienced in the Australian economy.

Senior Economists predict the RBA will be forced to announce further rate increases if the current high spending levels and rising prices continues.

Borrowers will be considering their interest rate options as the Variable Interest Rates offered by many banks are currently lower than Fixed Interest Rates … but how long will this last ???

If you wish to discuss your Home Loan please do not hesitate to call or click on “CONTACT US”.

RBA Increases Rates 0.25%

May 3, 2022 in Insider Tips, Latest News, Rate Rises

The Reserve Bank Board has increased the Official Cash Rate by 0.25%.

This marks the first rate increase by the RBA since November 2010 and was widely anticipated within the finance industry.

The speed to which the Australian economy is bouncing back following the cessation of COVID lockdowns and restrictions, combined with higher fuel prices incurred due to the war in Ukraine, have resulted in higher than expected inflation figures which has forced the RBA to act.

The “Big Question” is …

Will your bank pass on the 0.25% rate increase or take the opportunity to increase their profit margins with higher rate increases ???

If you are not happy with your bank’s response please do not hesitate to contact our Mortgage Specialists to discuss your options.

Please check your interest rates . . .

March 14, 2019 in Insider Tips, Latest News, Rate Rises

Banks Hit Existing Customers with Higher Interest Rates

It appears many of the banks (big & small) are targeting their loyal customers by quietly increasing the interest rates on their existing Home Loans & Investment Property Loans.

This is occurring at the same time as these same Banks are offering significantly lower interest rates to entice new customers.

If your bank is charging you higher interest rates on your Home Loan please contact DPF Mortgage Specialists ASAP !!!.


Q: Why should you bother  ???

A: Over the last 3 weeks alone DPF have assisted 6 separate clients to achieved lower interest rates with their banks which saved these clients a total of $19,000.00 per year (average of $3,167.00 per client).


Q: How can the banks get away with this ???

A: The banks believe that the majority of their customers are too busy to notice or simply won’t act even if they become aware.


Q: What can I do if my bank has targeted my Home Loan / Investment Property Loan ???

A: Contact DPF Mortgage Specialists, as after all … WE WORK FOR YOU … NOT THE BANKS


Banks increasing interest rates for loyal customers

October 2, 2018 in Insider Tips, Latest News, Rate Rises

Whilst the Reserve Bank Board voted for the Official Cash Rate to remain at the current level (1.50%) this month, please ensure you take a minute to check the current interest rate you are being charged for your Home Loan / Investment Property Loan.

Why ???

Many banks have increased the interest rates on the Home Loans & Investment Property Loans of their existing “loyal” clients and in many cases these interest rates are significantly higher than the rates currently being offered to attract new customers to the bank.

If you believe you are one of the many “loyal customers” being charged more than you should be  please call or email as we have a great strike rate of successfully negotiating with the banks on behalf of our clients to achieve lower interest rates  … & in the vast majority of occasions we have achieves significant for our clients without the need to refinance their Home Loan / Investment Property Loan to another bank.

Ahhhhhhh … the benefits of having your very own Personal Mortgage Specialist.


When will interest rates rise ?

September 5, 2017 in Insider Tips, Latest News, Rate Cuts, Rate Rises



Senior Economists from Commsec (Commonwealth Bank Securities) are predicting that the Reserve Bank may retain the Official Cash Rate at the current record low level (1.50%) for up to 1 year as the Australian Economy is continuing to perform at levels that may not require any additional stimulus from the RBA.


This is great news for Home Owners & Buyers who can sleep easy without the fear of imminent rate rises.


Home Loan Rates Down . . . Investment Rates Up … RBA Rates on Hold ???

August 1, 2017 in Insider Tips, Latest News, Rate Cuts, Rate Rises

Record Low

The Reserve Bank Board voted this afternoon to retain the Official Cash Rate on hold for the 12th consecutive month with some Senior Economist predicting another 12 months before the RBA will raise rates. 

Understandable many investors are scratching their heads asking why their interest rates have risen over the last few months … The answer is due the new capital requirements & policy restrictions which have been imposed by ASIC & APRA resulting in a higher “Cost of Funds” for investment loans & interest only loans. 

The “Good News” for home owners / buyers is many banks have recently reduced their interest rates on “Owner Occupied” Home Loans to rates under 3.99% p.a.

Some banks have also been a tad sneaky by advertising low rates for new customers but not passing on the lower rates to existing clients unless they demand a better deal.

 If your bank is charging you higher interest rates please call DPF Mortgage Specialists (07 5527 4744) ASAP or “CONTACT US” to find out how you can stop paying more than you should be.



Banks changing Interest Rates despite RBA decision

July 4, 2017 in Rate Rises


The RBA Board has elected to retain the Official Cash rate at the record low 1.50% for yet another month. 

Please keep an eye on your Home Loan interest rate as several Banks have recently reduced their Owner Occupied Home Loan interest rates whilst other Banks have taken the opportunity to increase their interest rates (& profit margin). 

Interest Rates on Investment Property Loan have increased across the board following recent changes in requirements by ASIC, although once again some Banks have passed on the minimum increase whilst other Banks appear to be taking the opportunity to increase their revenue. 

Please feel free to contact me if you wish to discuss how your Home Loan or Investment Property Loan is performing & to learn how you can achieve a lower interest rate.


DPF say “Thank You” with Nespresso Coffee Machines

June 6, 2017 in Insider Tips, Latest News, Rate Cuts, Rate Rises

Red Coffee Machine

The DPF Team are so very grateful for the generous support we receive from so many of our clients who regularly recommend our services to their family, friends & work colleagues.

As a means of thanking & acknowledging our wonderful clients for their efforts DPF Mortgage Specialists will be gifting a new Nespresso Coffee Machine to every client who recommends a family member, friend or work colleague who takes out a new Home Loan with DPF Mortgage Specialists (minimum new loan amount $150K).

Our clients are welcome to recommend as many family & friends as they wish as there are no restrictions as to how many coffee machine they can receive. You can have a coffee machine at home, at work, in the caravan or if you don’t like coffee we are sure your friends would love to receive a Nespresso Coffee Machine as a house warming gift.

This offer commences on 1st June 2017 & will expire on 30th September 2017.

New Home Loan amount required to be a minimum of $150,000.00.

New Home Loans to be unconditionally approved by the Bank / Lender on or before 30th October 2017 & settled in full on or before 30th November 2017.

All eligible Home Loan Applications are required to be received by 5pm (EST) 30th September 2017 & lodged with the Bank / Lender no later than 5pm (EST) on 6th October 2017.

Clients can select from either the Nespresso Breville Inissia Capsule Machine (BEC200XR) or Nespresso Delonghi Inissia Capsule Machine (EN80BAE) – Subject to availability.

This offer is restricted to clients of DPF Mortgage Specialists only.



RBA Rate Announcement … March 2017

March 7, 2017 in Insider Tips, Latest News, Rate Cuts, Rate Rises

Reserve Bank

Good News for Australian Families …

The RBA Board has voted to retain the Official Cash Rate at the current record low 1.50% p.a. for at least the next month.