Rate Watch
July 2022 Mortgage & Property Update: Cash Rate 1.35%
July continued the rapid hiking cycle and reduced maximum borrowing power across many borrower cohorts.
31/07/2022 • Chorus Finance
July 2022 rate watch: The policy rate moved up by 0.50 percentage points to 1.35%.
Another step up in the cash rate changed serviceability outcomes meaningfully for first-home buyers and upgraders.
Broker takeaway: Realistic purchase ranges, clean documentation and lender policy fit matter more than headline advertised rates.
Source: Reserve Bank of Australia cash rate target, as at the end of the month.
This article is general information only and does not constitute personal financial advice.
About the author
Chorus Finance
Chorus Finance is a Brisbane mortgage broking practice. The founder holds an MBA in Finance and has worked in mortgage broking since 2020. The practice helps Brisbane borrowers, including first home buyers, refinancers, and people with self-employed income, understand their home-loan options.
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