Repayments on an average $300,000 mortgage will increase by $47.89 per month following today's 25 basis point increase in the cash rate by the Reserve Bank of Australia.
This assumes retail banks will match the increase, a 25-year standard variable rate loan and an average new interest rate of 7.15 per cent.
MORTGAGE REPAYMENT INCREASE
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$100,000 $716.38 $15.96
$150,000 $1,074.57 $23.95
$200,000 $1,432.75 $31.93
$250,000 $1,790.94 $39.91
$300,000 $2,149.13 $47.89
$350,000 $2,507.32 $55.87
$400,000 $2,865.51 $63.86
$450,000 $3,223.70 $71.84
$500,000 $3,581.88 $79.82
