Australia's interest rate rises have impacted homeowners
Australia’s official interest rate is now 4.10% after the Reserve Bank of Australia lifted the cash rate by 25 basis points on Tuesday.
Rapid rises in interest rates over the past year have knocked the stuffing out of many would-be buyers and sellers.
For home owners with a $1 million mortgage, monthly repayments are now $2251 higher.
Those aren’t small amounts and people are seriously feeling it, especially if they’re buying and selling.
With so much uncertainty about interest rates, it can help to talk to a property expert if you're thinking of buying or selling! Contact a 𝗬𝗘𝗦 𝘁𝗲𝗮𝗺 𝗺𝗲𝗺𝗯𝗲𝗿 on 1300 032 669, if you'd like to discuss your situation with regards to selling or buying.
