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RBA interest rates: Reserve Bank of Australia leaves official cash rate steady at 4.1%
(www.theguardian.com)
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Yeah I literally got my monthly letter from the bank today letting me know my eye watering monthly repayment for my modest suburban house is going up another $200 a month.
So, yay for paused interest rates but they could have at least let me enjoy it for a day or two.
Yeah it is eye watering to look at what our minimum payments were 18 months ago, compared to now :-\
My primary residence mortgage is fixed until the end of the year, so I'm not looking forward to seeing how much the repayment jumps. It'll be going from 1.9% to ~6% most likely :(
Yep, good luck. Expect thousands (plural). You must have locked in the fixed term at the perfect time.