Australian mortgage rates are at a four-year low thanks to yesterday’s cuts, and any further falls could take rates to lows that haven’t been seen for at least 20 years.
The Reserve Bank’s newly updated chart pack, released today, shows how its cash rate decisions have affected banks’ housing lending rates since 1993.
Although governor Glenn Stevens did not mention plans for any future rate cuts yesterday, most analysts say there is still scope for further easing, so watch this space.
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