Finder RBA Survey: Majority of Panellists Expect a Cut in November as September Holds

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Finder RBA Survey: Majority of Panellists Expect a Cut in November as September Holds

Homeowners will have to wait a little longer for further mortgage relief as the RBA kept the cash rate on hold in September.

In this month’s Finder RBA Cash Rate Survey™, 32 experts and economists weighed in on future cash rate moves and other issues relating to the state of the economy.

All experts (100%, 32/32) correctly predicted a cash rate hold – keeping it at 3.60%.

The majority of panellists (69%, 22/32) are expecting one more rate cut in November.

Just 16% (5/32) predict a cash rate cut in December.

Graham Cooke, head of consumer research at Finder, said many homeowners are still doing it tough.

“While relief is starting to filter through, 35% of homeowners are still struggling to pay their mortgage in September.

“Even with another cut expected before Christmas, you don’t need to wait to get a better deal. If you’re currently paying more than 5.5% for a variable rate, you’re probably paying too much,” Cooke said.

Brodie Haupt, WLTH (Hold): “We are forecasting the RBA to hold rates in September, with a further cut anticipated in November. Market sentiment remains cautious following the recent reduction in August.”

Full Article: Finder

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