The RBA has decided to keep the official cash rate on hold at 1.0%. The cash rate remains at its lowest level in Australian history. The RBA’s recent decisions have prompted plenty of movement in interest rates amongst the big lenders. Some have passed on sizeable reductions in variable rates, while others have been slammed for not passing on the full rate cuts. Overall, interest rates remain low, there’s strong competition amongst lenders for borrowers of high credit quality, and home values continue to be soft in most markets. In other words, now is a great time to buy!