<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A July mortgage rate cut is "in the bag," according to financial comparison experts.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Nearly 88 per cent (30 out of 34) of experts and economists who took the Finder's RBA Cash Rate survey said they believe the Reserve Bank will cut the cash rates in July, bringing it down to 3.60 per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If the banks pass the rate cut, it would save Aussies with a $500k mortgage around $1613 per year.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/bomb-cyclone-system-moves-away-from-east-coast/c3846d1b-6162-4229-bd37-faddeb8e26a5"><strong><span>'Bomb cyclone' system moves away from east coast</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australians with a mortgage of $1 million will save an average of $269 per month, or $3226 per year. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Head of Consumer Research at Finder Graham Cooke said another rate cut would give mortgage holders a much-needed confidence boost.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We've seen two cash rate cuts already, but homeowners are chomping at the bit for more," he said.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/experts-say-july-cash-rate-cut-in-the-bag/8bba4307-c97d-441d-90e3-b7146620815f" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Inflation is continuing to reduce, which means the RBA is likely to cut and the banks will be under a lot of societal pressure to pass on the full rate cut again in July."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/australians-travelling-to-the-us-immigration-lawyer-explains-rights-at-the-border/93d72716-4010-45a1-b2e4-564883d5f797"><strong><span>How a meme could land you in hot water at the US border</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Matthew Peter from investment firm QIC said "a July cut is in the bag".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Underlying inflation is within the RBA's target band and falling, consumer spending is disappointing and the market is expecting a rate cut.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"No reasons for the RBA to wait," Peter said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The majority of experts who spoke to Finder also said they are predicting another rate cut in August.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Just over half of the experts polled also predicted a rate cut in November.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><span>The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.</span></em></div></div>