09/10/2026
The Reserve Bank of Australia increased the cash rate by 0.25% to 4.60%. This typically adds about $100 to $120 per month to a new or existing $600,000 variable home loan.
📊 How the Cash Rate Changes a $600,000 Loan
đź’˛Previous Rate (4.35% cash rate / ~6.20% variable): Estimated monthly repayment is roughly $3,695.
đź’˛New Rate (4.60% cash rate / ~6.45% variable): Estimated monthly repayment rises to roughly $3,805.
đź’˛Monthly Difference: An extra $110 per month added to your baseline budget.
Here's some things you can do to stay on top of your mortgage...
👉If you have any extra money - use it to pay off your loan
👉Use an offset account to reduce the principal amount calculated for daily interest
👉Consider moving your loan to principal and interest which might get you a better rate
👉If you have a tenant - talk to the rental manager to assess if your rent is being maximised
👉Look at getting a flat mate if you need or even potentially moving back in with the parents
👉If you are in real trouble, it is critical to have a conversation with your bank or broker - don't hide from it and stop paying your repayments