Mona Vale Blog

Is there a chance of another rate cut?

The RBA didn’t meet to decide on the cash rate in March, but the month still delivered plenty for homeowners and buyers to consider.

On 25 March, the Federal Budget included several familiar housing promises, such as an $800 million boost for the Help to Buy scheme. The budget was swiftly followed by the announcement of a Federal Election on Saturday, 3 May.

While the Budget failed to address major housing concerns like supply, the hope is that both sides of politics unveil more meaningful policies as the election campaign progresses. A clear result on polling day would also provide much-needed certainty for the real estate market heading into the colder months.

In the meantime, buyers are showing renewed interest after the February rate cut, with Raine & Horne reporting a 23% month-on-month surge in open-for-inspection activity in February. Vendor confidence also lifted, with national listings up 18% in February. That said, longer-term supply may tighten as appraisals dipped by 4.6% month-on-month.

For homeowners, the rate cut is welcome news. In March, lenders advised customers of revised minimum repayments on variable-rate loans and their options, which include maintaining the current repayment levels to help pay down mortgages faster or lowering repayments to the new minimum to ease cashflow pressures.

​​​​​​​With more potential rate cuts on the horizon, now’s the time to review your options with the support of a financial specialist such as Our Broker and to consider how best to manage your mortgage through autumn and beyond.

Whether you're planning to sell or buy in 2025, contact us to discuss your real estate goals - 02 9999 0800