Taking Advantage of the RBA's Decision to Leave Rates on Hold

In the wake of today’s decision by the Reserve Bank of Australia to leave interest rates on hold, property investors and other mortgage holders have been offered their first reprieve in almost a year. With economic uncertainty still looming large, this pause in interest rate hikes could be an opportunity for those with outstanding mortgages to make much-needed financial headway and take stock of their current property portfolio. When it comes to property investment, the status quo can be both beneficial and a challenge as it provides a steady mortgage repayment allowing increasing rental returns to catch up. However, with interest rates held steady, investor confidence will rise, bringing new investors into market and driving up the demand for the best properties.For many, the decision to leave interest rates on hold is a welcome respite. But savvy investors should also view this as an opportunity to gain headway in their portfolio. Now is a great time to revisit your long-term goals and ensure that any knocks to your emotional readiness in the wake of the previous years’ rate rises isn’t going to have a lasting impact on your property strategy. With economic uncertainty still in full swing, this move by the RBA should be treated as a signal that interest rates can go in any direction at any time and short-term predictions and fears should not outweigh your long term goals and aspirations. Current TPM members should visit the online membership portal to book in a coaching call with their mentor about the impact of the RBA’s decision on their portfolio. Anyone else looking for help navigating the current property market or looking to start their property investment journey can book in a one-to-one strategy session with a mentor today!