📈 Rate Rise Impact Calculator

The RBA might raise rates again. See exactly how much extra you'd pay per month on your mortgage if rates go up by 0.25%, 0.5%, 1%, or more.

Current loan balance

Current interest rate

Loan term remaining

yrs

Expected rate rise

📊 What this means

The Reserve Bank of Australia (RBA) sets the cash rate, which influences what banks charge for home loans. When the RBA raises rates to fight inflation, your mortgage repayments go up.

Recent history: The RBA raised rates 13 times between May 2022 and November 2023 (from 0.1% to 4.35%). That added hundreds of dollars per month to the average mortgage.

What to do: If you're on a variable rate, consider refinancing to a fixed rate if you think rates will keep rising. Or just budget for higher repayments so you're not caught off guard.