RBA keeps rates on hold

As forecast last week, another month passes by without a change to the RBA Cash rate.

Even fixed interest rates appear to be flat lining on our average interest rate comparison chart below.

Interestingly, the twelve year average (since Smartline starting recording rates) of “basic” variable interest rates appears to be right where we are now (around 7.00% – 7.10%). I think the long term average is about 7.5%.

*Information and graphs provided by Karen Forbes from SMARTLINE PERSONAL MORTGAGE ADVISERS