The Big Four banks made the announcements quickly after the RBA decision, which saw the central bank raise the cash rate to 3.1 per cent – the highest it’s been in over a decade.
This was the eighth hike mortgage holders have been hit with in as many months, with some Aussies now paying thousands of dollars more per month on their mortgage repayments.
The change means that someone with a $500,000 loan, with 25 years remaining, on a standard variable rate will be paying up to an extra $81 per month.
Read more at Yahoo Finance
