The first day of this month came with great news of a 0.5% reduction by the Reserve Bank of Australia to the official cash rate bringing this down to 3.75%.  This is a welcome relief but once again the banks have decided to retain some of this for themselves with most lenders passing on between 0.3 – 0.4%.  With this change over the past few weeks we have also seen some movement in the fixed rate market as well.  There are a number of 3 Year Fixed rate options available at 5.99% at the time of publisihing this post so contact me now if you want to look at your options to switch part or all of your current loans.