{"id":5506,"date":"2024-11-07T10:05:03","date_gmt":"2024-11-07T00:05:03","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5506"},"modified":"2024-11-07T10:05:03","modified_gmt":"2024-11-07T00:05:03","slug":"can-we-expect-the-rba-to-cut-back-rates-this-summer","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/","title":{"rendered":"Can we expect the RBA to cut back rates this summer?"},"content":{"rendered":"

\"\"With just one RBA rate decision left for 2024, homeowners may be holding onto hopes of a summer cut. We look at when rates may start falling \u2013 and how you could possibly give yourself a rate cut before Christmas.<\/strong><\/p>\n

\u201cAre we there yet?\u201d It\u2019s the catch cry of kids on long summer road trips, and it could just as easily apply to homeowners waiting for much-anticipated rate cuts.<\/p>\n

The good news is that we appear to be getting closer \u2013 with many banks forecasting a possible RBA rate cut by the end of summer.<\/p>\n

Rates on hold for November \u2026<\/h3>\n

The Reserve Bank of Australia (RBA)\u00a0kept rates on hold in November<\/a>, despite\u00a0inflation falling to 2.8%<\/a>, which is well within the RBA\u2019s preferred 2-3% inflation range.<\/p>\n

So, what\u2019s holding up rate cuts? And why does it seem like the goalposts keep shifting?<\/p>\n

It turns out the RBA is concerned that part of the decline in inflation \u201creflects temporary cost of living relief\u201d (think the\u00a0$300 power bill credit<\/a>).<\/p>\n

Basically, the RBA is worried that inflation remains too high and the outlook is still a little too uncertain to make any rate cuts right now.<\/p>\n

Banks expect rates to fall in early 2025<\/h3>\n

What the RBA is aiming for, is \u201csustainably returning inflation to target\u201d (that\u2019s the 2-3% band). And it cautioned this could still be a way off.<\/p>\n

That makes the chances of a festive season rate cut at the RBA\u2019s next meeting (December 10) unlikely.<\/p>\n

For the record,\u00a0RBA Governor Michele Bullock<\/a>\u00a0didn\u2019t give any hint on the direction of interest rates \u2013 either up or down.<\/p>\n

The banks, however, are a lot more open \u2013 and optimistic \u2013 about their interest rate expectations.<\/p>\n

The\u00a0Commonwealth Bank<\/a>, which had previously tipped a December rate cut, is now pencilling in the following meeting (February 18) for the first of what could be a string of rate cuts.<\/p>\n

Westpac,<\/a>\u00a0ANZ and AMP also all anticipate the RBA to cut the cash rate as early as February, while\u00a0NAB<\/a>\u00a0is forecasting a rate cut as early as March 2025.<\/p>\n

Why wait? Variable rates are already falling<\/h3>\n

While all this may make for a happy new year, February may seem a long way off \u2013 especially if you\u2019re sweating on a rate cut (and remember, there are no guarantees).<\/p>\n

But you may not have to wait around for the economy or the RBA to shift in your favour.<\/p>\n

It could be possible to give yourself a rate cut in time for Christmas.<\/p>\n

According to Mozo, growing expectations of future rate cuts have seen a number of lenders take the knife to their variable rates, with some\u00a0cutting their variable rates below the 6% mark<\/a>.<\/p>\n

This may be helping to drive a 2.1% uptick in the volume of\u00a0home loans being refinanced<\/a>\u00a0over the past month.<\/p>\n

Talk to us today<\/h3>\n

Waiting is never much fun. Refinancing now could help free up your household budget and contribute to a little extra Christmas cheer.<\/p>\n

If that sounds good to you, contact us for a review of your home loan. We can run through your situation and let you know if there are ways to save on your current home loan interest rate.<\/p>\n

Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.<\/p>\n","protected":false},"excerpt":{"rendered":"

With just one RBA rate decision left for 2024, homeowners may be holding onto hopes of a summer cut. We look at when rates may start falling \u2013 and how you could possibly give yourself a rate cut before Christmas. \u201cAre we there yet?\u201d It\u2019s the catch cry of kids on long summer road trips, […]<\/p>\n","protected":false},"author":23,"featured_media":5507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-5506","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-home-loans","8":"entry"},"yoast_head":"\nCan we expect the RBA to cut back rates this summer? · FinancialPlus Mortgage Broker Gold Coast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can we expect the RBA to cut back rates this summer? · FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"og:description\" content=\"With just one RBA rate decision left for 2024, homeowners may be holding onto hopes of a summer cut. We look at when rates may start falling \u2013 and how you could possibly give yourself a rate cut before Christmas. \u201cAre we there yet?\u201d It\u2019s the catch cry of kids on long summer road trips, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\" \/>\n<meta property=\"og:site_name\" content=\"FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-07T00:05:03+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"FinancialPlus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"FinancialPlus\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\"},\"author\":{\"name\":\"FinancialPlus\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057\"},\"headline\":\"Can we expect the RBA to cut back rates this summer?\",\"datePublished\":\"2024-11-07T00:05:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\"},\"wordCount\":639,\"publisher\":{\"@id\":\"https:\/\/financialplus.com.au\/#organization\"},\"image\":{\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1\",\"articleSection\":[\"Home Loans\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\",\"url\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\",\"name\":\"Can we expect the RBA to cut back rates this summer? · FinancialPlus Mortgage Broker Gold Coast\",\"isPartOf\":{\"@id\":\"https:\/\/financialplus.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1\",\"datePublished\":\"2024-11-07T00:05:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1\",\"width\":1100,\"height\":733},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/financialplus.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Can we expect the RBA to cut back rates this summer?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/financialplus.com.au\/#website\",\"url\":\"https:\/\/financialplus.com.au\/\",\"name\":\"Financial Plus Mortgage Broker Gold Coast\",\"description\":\"Gold Coast mortgage broker - home loans, car loans, commercial loans, business loans, first home buyers\",\"publisher\":{\"@id\":\"https:\/\/financialplus.com.au\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/financialplus.com.au\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/financialplus.com.au\/#organization\",\"name\":\"Financial Plus\",\"url\":\"https:\/\/financialplus.com.au\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/\",\"url\":\"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png\",\"contentUrl\":\"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png\",\"width\":400,\"height\":98,\"caption\":\"Financial Plus\"},\"image\":{\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057\",\"name\":\"FinancialPlus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/financialplus.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g\",\"caption\":\"FinancialPlus\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Can we expect the RBA to cut back rates this summer? · FinancialPlus Mortgage Broker Gold Coast","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/","og_locale":"en_US","og_type":"article","og_title":"Can we expect the RBA to cut back rates this summer? · FinancialPlus Mortgage Broker Gold Coast","og_description":"With just one RBA rate decision left for 2024, homeowners may be holding onto hopes of a summer cut. We look at when rates may start falling \u2013 and how you could possibly give yourself a rate cut before Christmas. \u201cAre we there yet?\u201d It\u2019s the catch cry of kids on long summer road trips, […]","og_url":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/","og_site_name":"FinancialPlus Mortgage Broker Gold Coast","article_published_time":"2024-11-07T00:05:03+00:00","og_image":[{"width":1100,"height":733,"url":"http:\/\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg","type":"image\/jpeg"}],"author":"FinancialPlus","twitter_card":"summary_large_image","twitter_misc":{"Written by":"FinancialPlus","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#article","isPartOf":{"@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/"},"author":{"name":"FinancialPlus","@id":"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057"},"headline":"Can we expect the RBA to cut back rates this summer?","datePublished":"2024-11-07T00:05:03+00:00","mainEntityOfPage":{"@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/"},"wordCount":639,"publisher":{"@id":"https:\/\/financialplus.com.au\/#organization"},"image":{"@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1","articleSection":["Home Loans"],"inLanguage":"en-AU"},{"@type":"WebPage","@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/","url":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/","name":"Can we expect the RBA to cut back rates this summer? · FinancialPlus Mortgage Broker Gold Coast","isPartOf":{"@id":"https:\/\/financialplus.com.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage"},"image":{"@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1","datePublished":"2024-11-07T00:05:03+00:00","breadcrumb":{"@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/"]}]},{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#primaryimage","url":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1","contentUrl":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1","width":1100,"height":733},{"@type":"BreadcrumbList","@id":"https:\/\/financialplus.com.au\/can-we-expect-the-rba-to-cut-back-rates-this-summer\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/financialplus.com.au\/"},{"@type":"ListItem","position":2,"name":"Can we expect the RBA to cut back rates this summer?"}]},{"@type":"WebSite","@id":"https:\/\/financialplus.com.au\/#website","url":"https:\/\/financialplus.com.au\/","name":"Financial Plus Mortgage Broker Gold Coast","description":"Gold Coast mortgage broker - home loans, car loans, commercial loans, business loans, first home buyers","publisher":{"@id":"https:\/\/financialplus.com.au\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/financialplus.com.au\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/financialplus.com.au\/#organization","name":"Financial Plus","url":"https:\/\/financialplus.com.au\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/","url":"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png","contentUrl":"http:\/\/financialplus.com.au\/\/wp-content\/uploads\/financial-plus-logo.png","width":400,"height":98,"caption":"Financial Plus"},"image":{"@id":"https:\/\/financialplus.com.au\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/financialplus.com.au\/#\/schema\/person\/7b0d029a6587cbef16ed101f41756057","name":"FinancialPlus","image":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/financialplus.com.au\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/40c4914d8dd124d0c5d1cd35c19fc63a?s=96&d=mm&r=g","caption":"FinancialPlus"}}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/financialplus.com.au\/wp-content\/uploads\/Blog-1100x733-Summer-Cut-2024.jpg?fit=1100%2C733&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pfCavx-1qO","_links":{"self":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts\/5506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/comments?post=5506"}],"version-history":[{"count":1,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts\/5506\/revisions"}],"predecessor-version":[{"id":5508,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/posts\/5506\/revisions\/5508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/media\/5507"}],"wp:attachment":[{"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/media?parent=5506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/categories?post=5506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialplus.com.au\/wp-json\/wp\/v2\/tags?post=5506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}