Reserve Bank’s early Xmas gift to borrowers

The Reserve Bank has paused interest rates at its final meeting of 2023, delivering millions of families a reprieve from another rise in their mortgage repayments early in the New Year.

The outer suburbs are being impacted most by higher rates

Despite interest rates rising at a record pace, the number of mortgage holders in arrears remains around the long-term average of 1%.

RBA Raises Interest Rates to 4.1% in June Amid Concerns Over Inflation Plan

The cash rate target saw an increase to 4.1% in June, marking a ten-year record.