Borrowers - Debt Guru

Positive News for Borrowers: The OCR Drop and What It Means for You! 😲 Debt Guru

October 26, 2024 by debt guru

Good news for borrowers! The Reserve Bank made a significant announcement yesterday, lowering the Official Cash Rate (OCR) by 25 basis points to 5.25%. The move signals a change in monetary policy that could provide much-needed relief to those suffering the consequences of rising mortgage payments. What this means for your mortgage Following the OCR … Read more

OCR Reduction in October: What it Means for Borrowers Debt Guru

October 15, 2024 by debt guru

Yesterday, the Reserve Bank took the decision to cut the official cash rate (OCR) by 50 basis points, bringing it down to 4.75%. But what does this mean for you, as a homeowner or someone looking to buy? Let’s break it down. Why was OCR removed? The Reserve Bank reduces the OCR when it wants … Read more