Newsletter: April Property Market Update: RBA Decision, Home Value Trends & Mortgage Readiness

Secure Your Financial Future with Smart Property Moves

The property market is showing resilience. Here’s what you need to know this month:

• RBA Holds Cash Rate at 4.10% – The Reserve Bank has kept rates steady, meaning borrowing conditions remain stable. While February’s rate cut provided some relief, now is the time to review your mortgage and plan strategically.

RBA Holds Cash Rate at 4.10% – What It Means for Property Buyers and Investors

The Reserve Bank of Australia (RBA) has announced its decision to keep the cash rate steady at 4.10% following its April 1, 2025, meeting.

Key Takeaways from the RBA’s Statement

• Inflation Control: Inflation has significantly declined since its 2022 peak, suggesting that previous rate hikes have helped stabilize demand and supply.

• Future Outlook: The RBA remains cautious, requiring further confidence that inflation will sustainably return to its target range before making future changes.

🏡 Preparing for Mortgage Application Success💪 A 12-week training program for your finances, inspired by ultra-running!

Applying for a mortgage is like preparing for an ultramarathon. You need strategy, endurance, and discipline to get to the finish line successfully. Just like you wouldn’t show up unprepared for a 100km race, you shouldn’t walk into a bank without first training your financial fitness. This 12-week mortgage preparation program will help you get your bank records in peak condition so you can confidently approach lenders and secure the best possible loan.

How do I improve My Borrowing Power?

1. Increase Your Income

2. Reduce Existing Debt

3. Minimise Credit Card Limits,

Cancel ALL Buy Now Pay Later Cards

4. Improve Your Credit Score

5. Save for a Larger Deposit

6. Cut Down on Unnecessary Expenses

7. Choose the Right Loan Structure

8. Consider a Joint Application

9. Extend Your Loan Term

10. Work with a Mortgage Broker

We Work for You, Not the Banks—Why That Matters

When securing a home loan or refinancing your property, one of the biggest misconceptions is that all mortgage brokers are the same. The truth? Not all brokers put your best interests first. At Best Foot Forward Mortgage Solutions, we’re different.

"We work for you, not the banks, and LOVE locking in the best possible interest rate for your unique situation."

This isn’t just a catchy slogan—it’s the foundation of how we operate.

5 Things Australian First-Time Homebuyers

Should Know.

1. Understand First-Home Buyer Incentives

2. Get Pre-Approval Before Searching

3. Factor in Additional Costs

4. Know the Differences Between Property Types

5. Hire a Professionals To Guide You Along The

Way: Conveyancer or Solicitor, Mortgage Broker, Accountant, Buyers Agent, and Financial Advisor.

Is it the right time to refinance your mortgage or purchase your first property?

The interest rate market is becoming increasingly competitive, which means that mortgage brokers can now secure outstanding deals for their clients. Are you considering refinancing your existing mortgage, or are you thinking about purchasing a new property? The interest rate market is becoming more competitive, allowing mortgage brokers to secure exceptional deals for their clients.

Currently, lenders are lowering interest rates to approximately 5.69% to 5.75% for variable loans and offering fixed rates for two years at 5.49%. These rates may vary depending on your potential purchase or refinance loan-to-value ratio.

1st Bank has dropped its interest rate to under 6% to a competitive 5.99%

Australian Lenders Are Lowering Variable Rates – What Does It Mean for Borrowers?

In a move that has caught the attention of borrowers across Australia, lenders are starting to lower their variable interest rates, with the first major bank making headlines by dropping its rate to an attractive 5.99%. This shift in the market has sparked discussions about the evolving lending landscape and what it means for homeowners, investors, and those looking to enter the property market.

In a significant move today, the Reserve Bank of Australia (RBA) reduced its benchmark cash rate by 25 basis points, bringing it down from its 13-year high of 4.35% to 4.10%.

The immediate beneficiaries of the rate cut are borrowers, particularly homeowners with variable-rate mortgages. In response to the RBA's announcement, Australia's "Big Four" banks—Commonwealth Bank of Australia, National Australia Bank, Westpac, and ANZ Group—have each committed to passing on the entire 25 basis point reduction to their customers. These adjustments are slated to take effect between late February and early March 2025.

What is the Housing Australia Scheme?

The Housing Australia Scheme is an Australian Government initiative designed to assist eligible individuals and families purchase homes sooner by reducing the financial barriers to home ownership. The scheme encompasses several programs, each targeting specific groups and offering unique benefits:

Can you “time” the property market in Australia?

Timing the property market in Australia—like any other market—is incredibly difficult. While you can analyze trends, economic indicators, and market cycles, predicting exact peaks and troughs is nearly impossible, and some may say it is too risky. Let's unpack the key points that may impact the Australian Property Market Price Movements.

When will interest rates go down in Australia?

This is the million-dollar question we’d all love to have answered, especially considering the current economic climate. Many nationwide households genuinely feel the financial pinch from the higher interest rates, which have proven to be significantly more burdensome than those experienced during the COVID pandemic.

Should I fix my loan or choose a variable interest rate? 🤓 Discover the Pros and Cons of fixed and variable interest rates.

Choosing between a fixed or variable interest rate option depends on several important factors, including your current financial situation, overall risk tolerance, and prevailing market conditions. In Australia, the Reserve Bank of Australia (RBA) set the cash rate, or interest rate, at 4.35%. It's speculated that we are at the peak of the interest rate cycle.

So when do the big four banks think rates will go down?