The Reserve Bank of Australia has increased the cash rate to 4.1% – here’s what it means for you.
You may have seen some dramatic headlines, but rate movements like this are a normal part of managing inflation and keeping the economy on track. So what does it mean for you?
For every $100,000 owing on your loan, a 0.25% increase adds around $3.64 per week to repayments. That looks like:
- $500,000 loan = approx. $18.20 extra per week
- $750,000 loan = approx. $27.30 extra per week
To understand what this means for your home loan, take a look at our Loan Repayment Calculator.
A quick review can make all the difference.
9 September
