RBA sets interest rates for September

The Reserve Bank of Australia has decided to leave the official cash interest rate at a record-low 2.0 per cent in September. The rate has been at 2.0 per cent since May 2015.

Capital city dwelling values increased by just 0.3 per cent in August, down from more than two per cent in June and July.

The annual pace of growth in investment home loans fell from an annual high of 11.1 per cent to 10.8 per cent in July said RPData/CoreLogic’s Tim Lawless. The slowing market signals would be welcomed by the RBA said Lawless.

Source: Mortgage Business