Rate Watch
March 2023 Mortgage & Property Update: Cash Rate 3.60%
March added another increase and pushed servicing buffers further into focus.
31/03/2023 • Chorus Finance
March 2023 rate watch: The policy rate moved up by 0.25 percentage points to 3.60%.
With rates now significantly above early-2022 levels, lenders scrutinized discretionary expenses and debt conduct more closely.
Broker takeaway: Clean statements, updated accountant documents, and realistic living-cost assumptions became non-negotiable.
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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