‘We never would have bought’: Australian mortgage holders feel the pain as interest rates rise again

The Guardian - World NewsCenter-LeftEN 1 min read 100% complete by Ima CaldwellFebruary 3, 2026 at 03:00 PM

AI Summary

short article 1 min

The Reserve Bank of Australia (RBA) has raised the official interest rate, ending a brief period of rate cuts. This decision is impacting Australian mortgage holders, particularly those who recently purchased property. One couple in regional New South Wales, who settled on land in September 2022, report that rising interest rates and building material costs have severely strained their finances. They feel their dream of building a home has become an unsustainable financial burden. The rate hike is expected to put further pressure on homeowners across the country.

Key Entities & Roles

Key Player Opposition Context

New South Wales 60% Australia 80% Reserve Bank of Australia ×290%

Keywords

interest rates 100% mortgage holders 90% rising rates 80% financial pain 70% rba 70% cost of building materials 60% rate-cutting cycle 50% mortgagees 50%