r/AusPropertyChat • u/Finance_With_Piyush Property Enthusiast • 3d ago

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

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.

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u/Used-History-6454 3d ago

David Pocock was very vocal about this being a terrible way to try to bring down inflation, whatever he’s planning I hope it gets taken seriously and the government pulls other levers and finally gives mortgage holders some relief, because it is bloody ridiculous.

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u/Comfortable_Owl_1448 21h ago

What was ridiculous was interest rates being near zero and people thinking that was normal. Rates are back to historically average levels now and punters who took out enormous mortgages thinking residential property prices could never fall are being caught with their pants down.

All you had to do was look back to the many other examples of property bubbles around the world to realise that this was no different.

3

u/Used-History-6454 19h ago

Mortgages are not proportionally the same so why should we accept higher interest rates? I agree they shouldn’t be near zero but come on dude.

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u/Comfortable_Owl_1448 19h ago

It’s not about what you think is acceptable it’s driven by a whole global financial market. What you did is make a choice to buy an asset at an over inflated value and financed the purchase via a variable rate debt, apparently without realising there was a risk that the variable rate could increase in the future. You live and learn

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u/Used-History-6454 17h ago

Uhh sure man, you don't actually know me or what I did or didn't buy so nice assuming there.