RBA Raises Cash Rate to 4.35%

RBA Raises Cash Rate to 4.35%

The Reserve Bank of Australia (RBA) has raised its cash rate by 25 basis points to 4.35%, marking its 13th rate rise since May 2022.

This move, the first in five months, is aimed at addressing inflation concerns. Governor Michele Bullock stated that inflation in Australia remains too high and persistent, prompting the rate hike. The RBA remains prepared to raise rates further if necessary.

Treasurer Jim Chalmers expressed concern, noting that the rate increase will impact those already facing challenges. The quarter-point hike is expected to increase monthly repayments for a standard $600,000 mortgage by approximately $100, contributing to a total increase of $1450 since the rate-increase cycle began.

For more information: https://www.theguardian.com/australia-news/2023/nov/07/rba-interest-rates-rise-hike-november-official-cash-rate-announcement-reserve-bank-australia

Or get in contact with Central Coast Mortgages today to see how this may affect your home loan.

CONTACT US TODAY

We are based on the beautiful Central Coast, between Sydney & Newcastle and we offer a complimentary home loan broking service.

Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.

Click here to get in touch.

All the latest news, tips & insights.

Building Variations: What You Need to Know

Building variations, such as colour changes, flooring, or finishes, can increase your construction costs. Central Coast Mortgages explains how planning for these adjustments in advance can help ensure your loan covers additional expenses. By communicating with your builder and broker early, you can avoid financial surprises and manage variations effectively, ensuring your construction loan is structured to meet your needs.

Click to read more
Key Steps to Finalising Your Construction Loan

Before your lender releases the final payment for your home or renovation, three steps are required. Central Coast Mortgages works with your lender to ensure everything runs smoothly. Learn more about how we support you through each step of your homeownership journey.

Click to read more
Is Chittaway Bay the Ideal Lifestyle Destination for You?

Experience the tranquil charm of Chittaway Bay, a peaceful waterside community with all the conveniences close by. With homes selling quickly, it's a good idea to chat with a mortgage broker early. Reach out to Katrina at Central Coast Mortgages for some friendly advice.

Click to read more
View All Blog Posts

Online Enquiry

We're here to help. Fill out the form below and we'll be in touch.

Thank you! We've received your form, we'll be in touch as soon as we can.
Oops! Something went wrong while submitting the form, please try again or email us via
Quick Links
HomeAll LoansFirst Home BuyerResourcesTeamContact
© Central Coast Mortgages 2023 | Privacy & Disclaimer | Sitemap
Your Central Coast Mortgages broker is an authorised representative of Outsource Financial, Australian Credit Licence 384324.
Your complete financial situation will need to be assessed before acceptance of any proposal or product.