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Mortgage Snapshot 2022

Listening to most of the news around Australia's current cash rate you may buy into the doom, gloom and panic in the headlines. We keep hearing that rates are skyrocketing. To levels that may soon see families fleeing homes, unable to keep pace with dramatically high rates. Reading this it would seem rate rises are unprecedented, unescapable, and insurmountable.

On the ABC/s 7:30 program, earlier this year, Reserve Bank of Australia (RBA) governor, Philip Lowe, warned Australian’s “need to be prepared for higher interest rates.”

Historically in Australia Home loan rates are closely tied to the cash rate. This week we saw the cash rate

climb another half point to 2.35%. As is predicted by the RBA, and lenders pass this rate rise on in full, some research assumes that the average variable rate in Australia will be 5.27%.

It is worth looking at the recent cash rate rises we have seen this year in a historical context.

The infographic below from the RBA, displays the recent history of Australia's cash rate, stretching back to 1997.

If we were to look further back, as far as the 1980s, we would see monolithically high rates of 19%. Compared to those heady days, the recent rate increase appears far less volatile. By understanding your priorities on your financial journey and understanding how a rate change will affect you, you can make prudent decisions.

Talk to our Mortgage team on 3352 9600 or send an enquiry to


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