Refinance

RBA Increases Cash Rate: How might you be affected?

The Reserve Bank of Australia (‘RBA’) has announced another 0.5% raise in the official cash rate, raising the rate to 2.35%.

Inflation will very likely hit 7 per cent by the end of 2022.

It’s unavoidable right now: ‘interest rate rises creating mortgage panic’ seems to be the headline across various publications each week.

The Reserve Bank of Australia (‘RBA’) has announced another 0.5% raise in the official cash rate, leaving it at 1.35%

Mortgage owners in Australia are facing difficult times, as interest rates are on the rise, along with the cost of living.

This week, Australia’s major banks and lenders passed on rate rises to fixed rate home loan products.

We might have seen the ‘R’ word being thrown around again recently. Of course, we’re talking about recession.

The Reserve Bank has warned that more interest rate hikes are imminent, with the impacts being felt across the board.

Mark Bouris appeared on A Current Affair to emphasise one of the ways Australians can work around interest rate rises.