Mortgage rate to rise after RBA announcement

4 March 2008

Today, the Reserve Bank of Australia (RBA) announced a further 0.25% interest rate rise to 7.25% for the target interest rate, meaning more bad news for the average mortgage rate.

The RBA are not backing down from their tight fiscal policy, hoping to slow Australia's economic growth enough to keep inflation in check. It's bad news for many mortgagees, however, as each mortgage rate rise has seen many more borrowers being forced to sell their properties.

Back to News Index | Back to Home

Recommended Home Loans & Mortgages

mortgagerate.com.au is an independent reviewer of the Australian financial sector. mortgagerate.com.au is not an Australian registered bank, building society or credit union. mortgagerate.com.au is a privately owned information portal and is in no way a part of or associated with any financial institution.