Rate Watch
February 2023 Mortgage & Property Update: Cash Rate 3.35%
February saw rates move again and reinforced the need for disciplined borrowing decisions.
28/02/2023 • Chorus Finance
February 2023 rate watch: The policy rate moved up by 0.25 percentage points to 3.35%.
The RBA lifted rates, and many lenders repriced quickly. Borrowers felt the compounding impact across affordability calculations.
Broker takeaway: Staged pre-approvals let buyers transact without over-committing.
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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