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The New Daily
The New Daily
Business
Matthew Elmas

Mortgage squeeze to worsen as RBA prepares rate hike amid refinancing binge

10 News First – Disclaimer

Millions of Australian home owners are facing yet another rise in their mortgage bills, with the Reserve Bank widely expected to raise interest rates again on Tuesday.

About $832 has already been added to monthly mortgage bills for a $500,000, 25-year loan paying principal and interest, since the cash rate has risen from a record low in May 2022.

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