Mortgage rates in Australia about to rise - again

Most punters and pundits expect our Reserve Bank to raise rates by at least another 0.25 pct next week. That will be third consecutive rise this year and the first one *directly* reflecting the upwards effect on headline inflation since Trump's phony oil control war started.

https://www.rba.gov.au/statistics/cash-rate/

Study the stats and you see how the trends reflect changes in economic conditions since the stupidly historic almost negative 0.1 pct cash rate during 2020 which encouraged huge borrowing to buy property amonst other things.

The stats table goes back to 1990 when the cash rate was around 17 percent, and today in 2026 people whinge even though it's not even 5 percent. 8-)

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swirlie · 31-35, F

The Bank of Canada just announced yesterday to keep it's prime lending rate at 2.25%

zonavar68 · 56-60, M

@swirlie Trump is trying to politically assassinate Jerome Powell for ensuring the Fed follows it's charter and remains (while Powell is chairman) inpartial and free of government influence though refusing to drop US lending rates ad-hoc without any care in the world about the real-time financial situation.

We're currently at 4.10 pct and it's almost certainly going up to 4.35 pct next week.

My mortgage rate is about 2 pct above the RBA cash rate.

swirlie · 31-35, F

@zonavar68
Life could be worse for you... you could be an American. Consider yourself lucky to be living in a country that is not insolvent, regardless of the rate you end up paying to the bank for your mortgage.