Reserve Bank decision to cut the cash rate to 2.5 per cent is welcome news for the Fryar family Allan and Jodie Fryar and their children Jesse, Kailey and Jackson, at their home Northlakes. YESTERDAY'S interest rate cut means the Fryar family are one step closer to their dream home. When the Reserve Bank cut the cash rate by 0.25 per cent to 2.5 per cent, Jodie Fryar, 37, knew the extra interest savings could make a big difference to her young family's lifestyle. "We're hoping to build our dream home at Stockland's North Lakes in the near future," Ms Fryar said. This cut means we are one step closer to that goal. Ms Fryar, along with husband Allan, has lived with their three children Jesse, 12, Kailey, 9 and Jackson, 7, at their home in North Lakes for eleven years. With a variable interest rate on their Bank of Queensland mortgage, Ms Fryar hoped the bank would be quick to pass on the savings. They have been one of the first to do so in the past, so we hope the same thing happens this time. If they do, the couple want to continue the same repayments and get their mortgage down. "We think that's the smartest thing to do," Ms Fryar said. It's great to know you have something extra to fall back on. Plus we feel less guilty about treating the family, even for something as simple as going out for dinner. Mr Fryar is self-employed as a carpenter while the couple recently opened a party supply store, Life of the Party. "I'm currently working six days a week in our new business and my husband is also working hard," Ms Fryar said. Any bit of extra money in our mortgage is a big bonus for us.