Interest Rates At All Time Low!

On Tuesday home owners received some good news that the reserve bank had decided to drop the interest rate by 0.25% to an all time low of 2.75%.  So far several smaller banks have decided to move on the rate cut these include Bank of Queensland, Suncorp Bank and ING Direct. 2 of the major banks have also jumped on board, NAB’s new rate of 6.13% will be effective from May 13th. Commonwealth have also dropped there rates to 6.15% and will also be effective on the 13th of May.