The Reserve Bank has left the official cash rate on hold near zero, but borrowers are already bracing for what life may look like with higher mortgage interest rates.
However, most analysts expect an interest rate rise by August, with some expecting the first rate increase in June, and a few even suggesting it could happen next month. Worryingly, 14 per cent of respondents said they "would not be able to afford the repayments", while less than a quarter said they could afford the increase without changing their spending habits.
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The Rba is keeping rights on hold because the economy is not strong.
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Source: SkyNewsAust - 🏆 7. / 78 Read more »