Interest Rates Stay Put

Interest Rates Stay Put

Australian mortgage holders got what they were hoping for today – an official stay on interest rates.

 

The Reserve Bank (RBA) decided to keep rates on hold at 4.75 per cent, despite recent news that inflation was running higher than expected.

 

Mortgage holders on variable interest rates are being charged a standard variable rate of about 7.83 per cent by their lenders.

To read the official RBA announcement and the reasons for keeping interest rates at their current levels, visit http://www.rba.gov.au/media-releases/2011/mr-11-07.html