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RBA Hikes Rates: Homeowners Mostly Unaffected, Experts Advise

2/2/2026

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Summary

Story summary

The Reserve Bank of Australia (RBA) will raise rates from 3.6% to 3.85%, and most of Australia's 3.3 million mortgaged homeowners will not see higher repayments.
Most borrowers at major banks did not lower payments during last year's rate cuts.
Experts say many homeowners are well positioned to handle the rate hike as direct debits remain unchanged.
Financial advisors urge those who paid the minimum to seek counseling services.

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Story summary

The Reserve Bank of Australia (RBA) will raise rates from 3.6% to 3.85%, and most of Australia's 3.3 million mortgaged homeowners will not see higher repayments.
Most borrowers at major banks did not lower payments during last year's rate cuts.
Experts say many homeowners are well positioned to handle the rate hike as direct debits remain unchanged.
Financial advisors urge those who paid the minimum to seek counseling services.