According to recent industry publications, The Reserve Bank is forecast to keep the cash rate on hold at 2.5% pending the federal election and to further assess recent rate cuts we witnessed in August.

National Australia Bank senior economist David de Garis advised the possibility of another rate cut before the end of 2013 – regardless if the Aussie dollar fell beyond .85c USD.

Even with the Aussie dollar going down, the RBA still forecast inflation to be within their target bands therefore there's not going to be a barrier to another cut,' Mr de Garis said.

'Both businesses and consumers are showing signs of being quite cautious with their finances, using a lower rate to repay debt faster, so that's weighing on discretionary spending,' Mr de Garis said.

Michelle Hutchinson spokeswoman of finder.com.au shared positive news that ``In fact, the number of Australians searching for home loans on Google has gone up 80 per cent this August compared to August 2012 and is forecasting 74 per cent more activity this mortgage season compared to spring 2012.''

In terms of property medians, there are also improvements as capital city dwelling prices have increased 3.5 per cent in the last couple of months. 

`Adding to this good news is the increase in consumer confidence in August, the highest levels since March.

if you do have a Variable home loan, or in a position to refinance fixed loan products, refinancing could save more than $2000 per year based on the average rate of 6% standard variable loans into one of the best variable rates on the market with some banks now offering below the 5% threshold.

(Source: Sky News Australia)

(Source: Sky News Australia)

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