The RBA today announced another 0.25 percent increase to the cash rate.
This 0.25 percent increase is lifting the cash rate to 3.5 percent. A copy of the Reserve Bank of Australia media release is copied at the Finance Broker Australia website.
This graph illistrates the trend of the cash rate in Australia since January 1990 to November-December 2009

RBA cash rate Jan 1990 to Dec 2009

Today at 2.30PM the Reserve Bank of Australia has announced an 0.25 percent increase to the cash rate effective tomorrow the 7th October 2009. Click to Read more..

Reserve Bank of Australia Cash Rate Graph Jan 1990 - Oct 2009

Australian Cash Rate 3.00%

The Reserve Bank today announced the cash rate will reduce to 3.00 percent, effective tomorrow the 8th April 2009.

This is the lowest the cash rate has been for 49 years.

At this stage we are only aware of one lender passing on any of the cut whith Commonwealth announcing they will reduce the standard variable interest rate by 0.10 percent.

The below graph shows the history of the cash rate in Australia since 1990. The average cash rate over this time is 7.03 percent. Click to Read more..

Australian Cash Rate History

With many experts forecasting further interest rate cuts the picture should look very attractive to anyone with a home loan, people considering purchasing a home and property investors.

Contact Ability Finance brokers, we will help you choose, apply for and structure your finance to provide a mix of flexibility and competitiveness. Setting your finances up correctly now could help to maximise the opportunities that present in the coming years.

Australian Cash Rate History Graph to Feb 2009

Australian Interest Rates Drop Another 1.00 Percent - Date: 3 February 2009

STATEMENT BY GLENN STEVENS, GOVERNOR MONETARY POLICY
At its meeting today, the RBA Board decided to reduce the cash rate by a further 100 basis points, to 3.25 per cent, effective 4 February 2009.
Read More

[Finance Broker News]

Home Loan Interest Rate History

The average bank variable interest home loan interest rate rate over the past 59 years in Australia is 8.87 percent. (source Reserve Bank of Australia standard variable interest rate home loans, Jan 1959 to Feb 2008)

The same standard variable home loan interest rate was above 9 percent from July 1974 through to August 1993 when the rate dropped to 8.75 percent for 1 year then did not return to below 9 percent again until November 1996.

Current 2008 interest rates don't seem that bad after all when viewed in this light! Click to Read more..