Most mortgaged homeowners won’t see repayments increase if the RBA hikes interest rates this week

Most of Australia's 3.3 million mortgaged homeowners are unlikely to see their repayments increase if the Reserve Bank of Australia (RBA) raises interest rates this week. The expected rate hike, from 3.6% to 3.85%, is anticipated by financial markets and economists due to inflation increases in the latter half of last year. Homeowners who consistently made minimum repayments during previous rate cuts will be most affected by the potential increase. Conversely, those who have been paying more than the minimum are in a better financial position. The RBA's decision is expected to be announced on Tuesday.

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