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RBA reduces interest rates by 0.25% p.a.

September 8, 2008 in Latest News, Rate Cuts by admin  |  No Comments

RBA reduced Interest Rates by 0.25% p.a.

Tuesday 2nd September 2008 – The Reserve Bank announced a 0.25%p.a. reduction in the official cash rate.  This is the first official interest rate reduction in 7 years & is a welcomed respite from the current high cost of living .

Several Banks / Lenders have acted quickly to confirm that they will reduce their Home Loan Interest Rates by up to 0.30%p.a.

St George                0.30% p.a.

Westpac                  0.25% p.a.

NAB                          0.25% p.a.

ANZ                          0.25% p.a.

RAMS                      0.25% p.a.

CBA                         0.25% p.a.

HSBC                      0.25% p.a.

Adelaide Bank       0.25% p.a.

AMP Bank               0.25% p.a.

GE Money               0.25% p.a.

Homeside              0.25% p.a.

Heritage                  0.25% p.a.

Citibank                   0.25% p.a.

Please note that the Banks / Lenders will not reduce your current repayment amounts unless you request them to do so. Each Bank / Lender will contact borrowers directly to confirm the interest rate changes & advise you of your repayment options.

If you wish to discuss your repayment options or seek any additional information please feel free to call DPF Mortgage Specialists on (07) 5527 4744

Posted in Latest News, Rate Cuts.