Edge Mortgages founder Glen McLeod says he would ‘love’ to see interest rates dip below four per cent.
If you fixed your mortgage in the middle of last year, you may be gritting your teeth as banks roll out ever-lower interest rate specials, with anything as low as 4.65 percent being offered for two year fixed rates.
But breaking a fixed-term mortgage comes with a cost. So how do you figure out if it’s worth it?
The Reserve Bank has cut official interest rates to 2.75 per cent.
Economists almost universally expected the central bank to cut its official cash rate to 2.75 per cent, which has built on the two cuts that occurred in June and July, but what happens after the announcement is less clear.