The year has flown past but Australia’s official cash rate isn’t going anywhere. Borrowers were gifted an early Christmas present with the Reserve Bank of Australia holding the cash rate steady at 1.5% to close out 2018.

The RBA believes the low cash rate is supporting the Australian economy, with unemployment reaching its lowest level in six years and inflation low and stable. While the economy is in good shape, the few dark clouds continue to be low wages growth and price drops in the housing market, especially in Sydney and Melbourne.

Without a crystal ball, I agree with most economists that the next RBA-led rate change will be up. But we could see almost another year pass before that happens.

That doesn’t mean interest rates will be staying put. We’ve already seen some rates changes, up and down, by various lenders over the past few months, and there are still some incredibly hot deals on offer, especially for fixed rates.

As the year winds down to a close, why not get a head start on 2019 and book in a chat with your Aussie Broker. A simple health check of your home loan will show if there’s a better deal available, and can help you start the new year off in a stronger financial position.