Millions of Australian home owners were spared another increase in their mortgage bills on Tuesday when the Reserve Bank hit pause on a record-breaking string of interest rate hikes that lasted almost an entire year.
The move – which brings an end to 10 consecutive increases that have seen repayments on a 25-year, $500,000 loan rise $983 per month – is being taken as a sign the RBA is nearing the finish line on rates, or is already there.
