Interest Rates - How far can they fall?

Submitted by Linda77 on Sat, 02/07/2009 - 23:22.

No-one really knows the answer, but this week they dropped to a 45 year low. All four big banks have passed on the full rate cut, but have also been quick to say they may not be able to pass on future cuts in full in the near future.

First home buyers are in prime position with up to $21,000 up for grabs in grants and now as interest rates fall, taking on a mortgage does not seem like such a noose around the neck.

Although times are still tough, we may also see a jump in people that are now more willing to take on an investment property or upgrade from their current home.

It’s not only good news for buyers. Sellers are also at an advantage because the current situation will spark more interest in the property market and in turn mean potentially added interest in your property.