Fifth rate rise adds $107 a month to typical mortgage
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Show notes
The RBA lifts rates to an 18-year high of 4.85%, adding more pressure to mortgage holders. But could this be the last rise?
The Reserve Bank has lifted interest rates for the fifth time this year, adding more than $530 to monthly repayments on a typical $700,000 mortgage since February. But is the RBA now finished raising rates, and what does its decision mean for house prices and the economy? SBS Finance Editor Ricardo Gonçalves speaks with HSBC Chief Economist Paul Bloxham, UBS Wealth Management’s Mike Jenneke and Canstar’s Sally Tindall about the outlook for borrowers, savers and investors.
In this episode:
Why the RBA lifted interest rates to 4.85%, and whether this could be the final rise of the cycle.How higher mortgage repayments and falling borrowing capacity are affecting housing affordability, and what borrowers can do to secure a better rate.Why Australia's housing downturn could deepen, and whether the economy is heading towards a recession.How investors are responding to the RBA decision, global uncertainty and the sell-off in technology stocks.What higher interest rates mean for savings accounts and how to make the most of better returns.
