Anyone else stressing about another potential RBA rate hike this November(03/11)?

[u/Finance_With_Piyush]

With inflation still sticking around and the big banks dropping hints, it’s looking more and more likely that the Reserve Bank of Australia (RBA) might lift the cash rate again at their November meeting(03/11)

My budget is already stretched to the absolute limit with the current mortgage repayments, and another 0.25% increase is going to hurt.

• Are you guys fixing your rates now, or just riding it out?
• For those renting, have your landlords already started hinting at another increase?
• What’s the consensus here, do we think they’ll actually pull the trigger, or hold off?

Would love to hear how everyone else is preparing for this.

[u/Nose_Beers_85]

I feel they will hold until after Christmas, it would be a massive backlash if they go up again.

I’m one of the poor bastards that bought around the peak at the start of the year. I can probably manage some increases well enough by going into hibernation, but the double blow is that the value will have dropped about 10%. It’s just a villa in Perth, next door is up for sale and very similar to mine overall, offers from $60k less than what I paid.

If I had to sell, I’d take a massive hit. This place means nothing to me, but it feels I’m going to be stuck here for a long time.

[u/Puzzleheaded-Act-761 → u/Nose_Beers_85]

Hey if it’s any consolation, you’re not going through this alone.

I pulled myself up by my bootstraps to get a deposit. At the time I had the choice of a 1 bedder in the inner west of Sydney or a house in regional NSW. I bought the house and chose to rent-vest, and everyone around me told me the house was a better use of my capital.

Basically have been ploughed in the arse by tax changes and the RBA. The market conditions won’t stay like this forever. But agree it sucks to be stuck. Just keep your head up.