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Nearly 40% of property owners face mortgage rate resets in the next six months
What the Reserve Bank's split decision means for your household budget.
AI summary
The Reserve Bank narrowly kept the OCR on hold, but future increases are likely, signaling an end to falling mortgage rates.
Nearly 40% of property owners face a mortgage rate reset within the next six months. In response, many borrowers are shifting from shorter terms to two-year fixed rates to gain stability, despite facing a small immediate rate rise. While higher costs are coming, a massive, sudden spike in mortgage rates currently seems unlikely.
A split decision at headquarters
What this means for your back pocket
The six-month countdown
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