RateCity’s Research Director Sally Tindall says the Reserve Bank of Australia’s ninth rate rise is “getting into pretty big numbers”.
“Someone with a $500,000 loan at the start of the hikes, they’re looking at a $76 increase in their monthly repayments today as a result of this quarter-of-a-per-cent hike,” she told Sky News Business Editor Ross Greenwood.
“But of course, had eight before it, nine in total – they’re looking at a total increase of $908 every single month on their mortgage.”
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