Homeowners Urged to Review Mortgage Rates After Latest RBA Hike
By Ravs Realtors · 3 October 2026 · 1 min read · Source: The Guardian
The Reserve Bank of Australia's recent interest rate hike, bringing the cash rate to a 15-year high, means average variable mortgage rates are now around 6.49%. Homeowners are advised to compare rates, as some lenders offer variable rates closer to 6%, potentially saving hundreds monthly.
For homeowners and potential buyers in Melbourne's western growth corridor, actively seeking better mortgage rates is crucial to manage rising living costs. While refinancing can offer savings, those with high loan-to-value ratios might face challenges, impacting their ability to upgrade or invest.
Summarised by Ravs Realtors from reporting by The Guardian.
