February 18, 2025
Anthony Waldron, Mortgage Choice CEO
“Following its first meeting of 2025, the Reserve Bank has cut the cash rate by 25 basis points – the first drop in the cash rate since November 2020. This decision will be welcomed by borrowers and hopeful buyers who have been waiting for home loan interest rates to fall.
“The Reserve Bank surprised the market and consumers today by cutting the cash rate by just 10/15 basis points, rather than the expected 25 basis points. Today’s decision was the first cut since November 2020 – and the only instance on record where the RBA has reduced the cash rate by less than 25 basis points. This hawkish decision suggests that board members are optimistic but still wanting to see inflation fall within the 2-3% band."
“The year is off to a strong start, with Mortgage Choice brokers reporting they’re seeing increasing numbers of buyers ready to put their property plans into action, and many more interested in refinancing. In fact, last month was the strongest January on record for Mortgage Choice loan submissions.
“In a sign that borrowers are expecting rates to fall further, 96% of loans submitted by our brokers in January 2025 were for variable rate home loan products.
“With this rate cut, I think we can expect competition to heat up in the home loan market and I encourage borrowers to seize this opportunity to secure a better rate. If you haven’t had your loan reviewed in the past year, chat with your broker to ensure your loan still meets your needs.
“If you’re looking to buy property soon – I'd make an appointment with your broker to make sure you’re ready to apply for a loan as soon as you find the right property.”
Smoother experience as they have all your information.
Better understanding of your financials to provide tailored advice. 
Faster response compared to being matched with a new broker.