<img class=”alignright size-medium wp-image-28692″ src=”http://www.realwealthaustralia.com/wp-content/uploads/2016/06/rate-cuts-300×169.jpg” alt=”rate cuts” width=”300″ height=”169″ srcset=”https://www.realwealthaustralia explanation.com/wp-content/uploads/2016/06/rate-cuts-300×169.jpg 300w, https://www.realwealthaustralia.com/wp-content/uploads/2016/06/rate-cuts-500×282.jpg 500w, https://www.realwealthaustralia.com/wp-content/uploads/2016/06/rate-cuts.jpg 728w” sizes=”(max-width: 300px) 100vw, 300px” />There has been much discussion around the possibility of further rate cuts this year, which would bring mortgages to the lowest levels they’ve been in decades.
But at least one major mortgage figure doesn’t believe mortgage holders will receive any further cuts.
The founder of non-bank lender Aussie Home Loans, John Symond, has gone on the record to state that the Reserve Bank interest rate cuts don’t have the impact they used to.
“I’m hoping it won’t happen because I’m hoping the Australian economy does better than it has, and it doesn’t go backwards because every time rates go down,” he says, adding, “it’s a measure of the health of our economy.”
