GgoogleAU first seen 2 d ago, last 2 d ago, peak #4

Macquarie Bank raises variable mortgage rates

Original: macquarie bank variable rate increase

Macquarie Bank has increased its variable home loan rates, following the Reserve Bank of Australia's latest cash rate hike. The move adds to repayment pressures for Australian mortgage holders, with economists noting the increase is a bitter pill for borrowers already stretched by successive rises. The RBA board is reportedly divided over the risks of further tightening.

Why now: The RBA's latest rate hike is prompting lenders like Macquarie to lift variable rates, hitting mortgage holders' budgets.

Macquarie BankReserve Bank of AustraliaAustralia

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Evidence

• For Avelima’s family, every RBA rate hike means extra shifts, a stretched budget – and less time together · The Guardian
• This is the RBA’s cruellest rate rise. Australia is becoming K-shaped · AFR
• The RBA is split over the risks of the latest rate hike. For Australians, it’s a bitter pill | Nicki Hutley · The Guardian

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