What RBA rate rise means for borrowers

·1-min read

WHAT YOU'LL PAY IF BANKS FOLLOW THE RBA:

Repayments on a $500,000 mortgage will rise by $75 a month on average if retail banks fully pass on Tuesday's 0.25 per cent increase in the cash rate by the Reserve Bank of Australia.

If your mortgage is (size, new monthly repayments, increase):

* $300,000 - $1568.56 - $44.94

* $350,000 - $1829.99 - $52.43

* $400,000 - $2091.41 - $59.92

* $450,000 - $2352.84 - $67.41

* $500,000 - $2614.27 - $74.90

* $550,000 - $2875.69 - $82.39

* $600,000 - $3137.12 - $89.88

* $650,000 - $3398.55 - $97.36

* $700,000 - $3659.97 - $104.85

This assumes a 30-year standard variable rate loan at an average new interest rate of 4.77 per cent.

(Source: CommSec)

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