{"id":19279,"date":"2019-06-05T09:56:14","date_gmt":"2019-06-04T21:56:14","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=19279"},"modified":"2019-06-05T09:56:14","modified_gmt":"2019-06-04T21:56:14","slug":"new-rba-cash-rate-announcement-puts-borrowers-on-a-21000-high","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/new-rba-cash-rate-announcement-puts-borrowers-on-a-21000-high\/","title":{"rendered":"New RBA cash rate announcement puts borrowers on a $21,000 high"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0Reserve Bank of Australia (RBA)<\/strong><\/p>\n

The who\u2019s who of the Australian financial world knew it was coming, but the big surprise for average homeowners is just how much today\u2019s interest rate cut could save them.<\/p>\n

\n

For almost three years, the Reserve Bank of Australia (RBA) has kept the official cash rate at 1.5 per cent, but in a widely-predicted move, that was dropped to 1.25 per cent.<\/p>\n

Graham Cooke, insights manager at finder.com.au said he anticipates that the average Australian home loan size, which currently sits at $384,700 according to the ABS, will now increase following the rate cut, especially if past consumer behaviour is anything to go by.<\/p>\n

\u201cThe average home loan size increase following the last 10 rate cuts was 1.3 per cent. This could add almost $5000 to the average size of home loans nationally,\u201d Mr Cooke said.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

  PHOTO:\u00a0Reserve Bank of Australia (RBA) The who\u2019s who ofRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":13722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478105560,478105559,478101518,478098562,478098542,478098519,478098535,478098522,478098513,478101743,478098873,478098579,478098510,478098514,478105355,478098609,478098511,478098509,478098610],"class_list":["entry","author-data123nz","post-19279","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-average-home-loan","tag-average-homeowners","tag-finder-com-au","tag-foreign-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-interest-rates","tag-property","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-rate-cuts","tag-rba","tag-real-estate","tag-real-estate-news","tag-reserve-bank-of-australia"],"yoast_head":"\nNew RBA cash rate announcement puts borrowers on a $21,000 high - 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