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RBA Keeps Cash Rate Low

By David Bell

If you are thinking about jumping onto the property ladder and purchasing real estate in Rockhampton, you may be interested to hear the latest cash rate decision.

The Reserve Bank of Australia (RBA) has made the choice to maintain the cash rate at its historically low level of 2.5 per cent.

Home buyers will be pleased by this decision, as it allows many lenders to keep their interest rates low too.

The housing and equity markets have strengthened in the past few months, which will help those looking at investing in property, according to RBA Governor Glenn Stevens.

The cash rate was dropped to its lowest level in August of this year, after experiencing a number of reductions since the end of 2011.

However, the property market is now gaining momentum, according to Loan Market Director Mark De Martino, who said retail spending is also up.

"We’re finally starting to see sustained confidence return to the economy. Homeowners and buyers are reaping the rewards of record low interest rates," he said.

Now might be a great time to invest in a piece of real estate in North Rockhampton.

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