Homeowners Australia wide have sighed a breath of relief this month, as the Reserve Bank did not raise interest rates. There has been an ongoing climb in interest rates, with 12 steady rate hikes since 2002. This month signals the first time the RBA has remained static in 6 years.
The stresses of mortgage debt is a wide spread problem across the nation, with homeowners’ living budgets suffering as they struggle to meet house basic repayments. The end to the rate rise crisis momentarily gives a cautious optimism for Australians.