Rate Watch
May 2023 Mortgage & Property Update: Cash Rate 3.85%
May resumed rate rises and reminded borrowers that policy risk remained live.
31/05/2023 • Chorus Finance
May 2023 rate watch: The policy rate moved up by 0.25 percentage points to 3.85%.
A fresh increase reset expectations and pushed many active buyers to revisit target property ranges.
Broker takeaway: Scenario modeling before contract commitments prevented avoidable stress and protected execution timelines.
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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