First Home Buyers - Lock in interest rates

Although the market is starting to cool, first home buyers are sure to appreciate a reprieve in surging property prices. They will also be potentially hit with higher loan repayments as banks continue to hike fixed interest rates in anticipation of a Reserve Bank rate rise. However, some lenders began dropping variable rates on both owner-occupier and investor home loans.

Whilst the RBA has said they won’t make any changes just yet, however economists say that should inflation appear above the target range of 2 to 3 per cent for a sustained period, this could happen sooner.

There’s never been a better time with the cooling of property prices and interest rates at record lows for first home buyers to jump into the market to buy their first home or investment property.

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