Borrowers hit with their third interest rate rise for 2026
Borrowers face mounting repayment pressure as the cash rate climbs to 4.35 per cent, with global conflict and housing costs keeping inflation higher for longer.
Recent research from Finder shows that nine per cent of mortgage holders – or 297,000 people – would default on their mortgage if there are one or two more interest rate hikes. (Image source: Rose Marinelli/Shutterstock.com)
Borrowers have been hit with their third interest rate rise this year, with the official cash rate increasing on Tuesday (5 May) by 25 basis points to 4.35 per cent.
The conflict in the Middle East has caused an inflation surge that the Reserve Bank of Australia (RBA) felt it could not ignore without putting the economy in peril.
“As expected, developments in the Middle East are having an impact on inflation,” the RBA Board’s Monetary Policy De…
