Five common property finance terms explained

Navigating the world of property finance can be daunting, with its web of terminology and jargon, often leaving even seasoned buyers and sellers scratching their heads.

However, arming yourself with knowledge before diving in can significantly enhance your chances of long-term success. Here are some key terms to understand.

Cash rate

The cash rate acts as a benchmark for setting interest rates on home loans and savings accounts. It represents the rate at which banks lend or borrow money from each other on an overnight basis. Set monthly by the Reserve Bank of Australia board, lowering the cash rate aims to stimulate borrowing and economic activity, while raising it helps control inflation by increasing borrowing costs.

To know more:https://timesnewsgroup.com.au/surfcoasttimes/real-estate/five-common-property-finance-terms-explained/