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Interest Rates - Update

Australian interest rates and rates for borrowers remain at record low levels and appear to be staying right where they are. Most major lenders are offering fixed rates below 2% for the average owner occupier with a loan to value ratio below 80%. The prospect of rates getting cut is highly unlikely as this would put into negaitve rates. There has been some recent commentary that rates could rise however this was put to rest by the Reserve Bank governor, Philip Lowe, on the 10th March when he stated that without the unemployment rate falling substantial wage growth, interest rates will not increase - from the horses mouth.


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December 2020 saw the highest level of residential loan settlements on record at $64B. Broker market share of the loan settlements also increased to 59%. The record lending levels are attributed to; -

Highland Finance Pty Ltd is an authorised representative (491823)of Elders Home Loans Pty Ltd (Australian Credit Licence 384408)