Our mortgage market updates have uncomfortably featured RBA cash rate increases for the better part of 2022, with one last 0.25 basis point sting announced at the beginning of the month. Naturally most lenders were pretty quick the pass on the buck…
Thankfully we now get a little breathing room from the RBA, with the first meeting of 2023 scheduled for the first Tuesday of February. Some economists are predicting that the heaviest lifting has already been and gone, with a little bit of hope for interest rate stability in 2023. We’re crossing our fingers that the uptick in retail and hospitality spending this Christmas and holidays season doesn’t drastically impact the looming RBA decision…but time will tell.
Late December is the time of year where brokers and banks wind down and reset for a busy New Year. With Christmas Day and New Years Day falling on a Sunday, our offices will be open until 5pm on Friday the 23rd of December, reopening on Tuesday the 3rd of January.
We find that the holiday period is traditionally a good time to review home loans, household spending and the property market, with a little more mind space to think and plan for the New Year. We will endeavour to respond to any enquiries over the holidays, but will also hopefully catchup on a few sleep-ins and some quality family time in-between.
The Bernie Lewis Home Loans team are working hard on a few exciting business developments heading into next year, which we are looking forward to seeing come to life… we’ll chat more about that on the flip side.
Take care this holiday season, we wish the best for you and your family, as we optimistically head into 2023.
