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Buyers rush to market as RBA tipped to cut rates again
Australians are bracing for another interest rate cut, with the Reserve Bank of Australia widely expected to lower the cash rate by 0.25 percentage points at 2.30pm on Tuesday, bringing it to 3.60 per cent.
All four major banks: ANZ, Commonwealth Bank, NAB, and Westpac have forecast the move, citing weaker household spending, softer inflation, and ongoing global uncertainty as key drivers.
Economists say a cut would trim around $76 a month from repayments on a typical $500,000 mortgage, adding up to nearly $230 in savings from three cuts since February.
While that’s welcome news for existing borrowers, it’s also intensifying competition in the property market, with buyers rushing to secure homes before prices climb further.
