RBA Rate Hike: Thousands of Dollars Added to Mortgage Payments Since May

Homeowners will be plagued with hundreds of extra dollars in mortgage payments if another nightmare rate hike hits, with the Reserve Bank of Australia pushing through another 0.25 percent rate hike. This is the sixth rate hike since May and brings interest rates from a record low of 0.1 percent to 2.6 percent. For a … Read more

US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Interest rates: decline in household consumption is a sign that RBA will cut spot interest rates in 2023

This aggressive tightening has already increased the average variable mortgage rate in Australia by two-thirds, from 3.45 percent in April just before the first rate hike to 5.70 percent today. This is the highest variable mortgage rate since January 2013 and comes at a time when Australian mortgage holders are more indebted than ever. According … Read more

Interest rates: RBA analysis shows mortgages could rise by 60 percent

Last October, I explored the possibility that the Reserve Bank of Australia (RBA) could be forced to raise interest rates to fuel rising inflation. When I compared them to the old Looney Tunes character Wile E. Coyote, I speculated that the RBA might be forced to furiously chase inflation the same way Wile E. chased … Read more

RBA: Aussies warn of third consecutive 50 basis point cash rate hike

A day after interest rates were raised for the third month in a row, millions of homeowners have been warned of a triple blow. Homeowners have been warned to brace themselves for a trespass of a third 0.5 percentage point hike in cash interest rates next month amid looming price hikes for gasoline, fruits and … Read more

RBA rate hike: Australia headed for recession

Yesterday’s cash rate hike was a major blow to many Aussies, with fears further hikes could send Australia into another recession. On Tuesday, the Reserve Bank of Australia (RBA) sent a dagger through the hearts of Australian mortgage holders, raising the official cash interest rate (OCR) by another 0.5 percent – ​​the third consecutive monthly … Read more