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RBA lifts rates - so is it time to refinance?

With the Reserve Bank of Australia set to raise rates throughout 2022 and the banks following without hesitation, is it time for homeowners and investors to reshape their bank finance?

Collage illustration of text reading Reserve Bank, cityscape and hundred dollar notes.

The Reserve Bank of Australia (RBA) has lifted its official cash rate by 25 basis points to 0.35 per cent, the first such upward movement since November 2010.

With markets pricing in the virtual certainty of another rise in June to take the cash rate target to at least 0.5 per cent,

 there is a degree of fear among many home owners and investors who face the prospect of repayments that stretch already-pressured household budgets.

If passed on in…