While easily overlooked, thanks to the Melbourne Cup occurring on the same day, the RBA has decided to leave the cash rate on hold at 2.5%. Tuesday’s meeting sees the cash rate maintained at its historical low and we envisage the decision will help maintain the strong level of price growth across Sydney.

For the first time since 2010, fixed interest rates have begun to creep up recently – quietly introduced by the big four banks – with 3 and 5 year fixed rates first to go, followed by CBA’s announcement yesterday morning of an increase in their 2 and 3 year fixed rates, effective immediately.

The expectation is that lenders will leave their variable rates unchanged, but… stay tuned for any changes outside of the official rate.

Follow: Subscribe to this post's comments