RBA Raises Cash Rate to 4.35%

RBA Raises Cash Rate to 4.35%

The Reserve Bank of Australia (RBA) has raised its cash rate by 25 basis points to 4.35%, marking its 13th rate rise since May 2022.

This move, the first in five months, is aimed at addressing inflation concerns. Governor Michele Bullock stated that inflation in Australia remains too high and persistent, prompting the rate hike. The RBA remains prepared to raise rates further if necessary.

Treasurer Jim Chalmers expressed concern, noting that the rate increase will impact those already facing challenges. The quarter-point hike is expected to increase monthly repayments for a standard $600,000 mortgage by approximately $100, contributing to a total increase of $1450 since the rate-increase cycle began.

For more information: https://www.theguardian.com/australia-news/2023/nov/07/rba-interest-rates-rise-hike-november-official-cash-rate-announcement-reserve-bank-australia

Or get in contact with Central Coast Mortgages today to see how this may affect your home loan.

CONTACT US TODAY

We are based on the beautiful Central Coast, between Sydney & Newcastle and we offer a complimentary home loan broking service.

Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.

Click here to get in touch.

All the latest news, tips & insights.

From Nurse to Investor: How We Helped Her Buy with Just 10% and No LMI!

At Central Coast Mortgages, we helped a dedicated nurse secure an investment property loan with just a 10% deposit and no Lenders Mortgage Insurance (LMI) saving her thousands.

Click to read more
More Than a Mortgage: How Katrina Has Your Back Every Step of the Way

Katrina at Central Coast Mortgages provides personalised, supportive mortgage advice with a calm and clear approach. She takes the time to understand each client’s full financial picture, connects them with trusted professionals, and follows through with focused determination.

Click to read more
From Surviving to Thriving: Why Katrina is the Broker Every Single Parent Needs

Katrina’s journey from single mum to property investor and mortgage broker gives her a unique ability to support other single parents navigating home loans after separation. With personal experience and practical strategies, she helps her clients move from financial stress to stability and empowerment.

Click to read more
View All Blog Posts

Online Enquiry

We're here to help. Fill out the form below and we'll be in touch.

Thank you! We've received your form, we'll be in touch as soon as we can.
Oops! Something went wrong while submitting the form, please try again or email us via
Quick Links
HomeAll LoansFirst Home BuyerResourcesTeamContact
© Central Coast Mortgages 2023 | Privacy & Disclaimer | Sitemap
Your Central Coast Mortgages broker is an authorised representative of Outsource Financial, Australian Credit Licence 384324.
Your complete financial situation will need to be assessed before acceptance of any proposal or product.