Further interest rate hikes could ‘devastate’ property market without easing unaffordability

RBA governor Michele Bullock. An increase in the cash rate to 4.6%, from 4.35%, would add another $100 to the monthly mortgage interest bill on a $700,000 loan. Photograph: Dan Himbrechts/AAP RBA governor Michele Bullock. An increase in the cash rate to 4.6%, from 4.35%, would add another $100 to the monthly mortgage interest bill on a $700,000 loan. Photograph: Dan Himbrechts/AAP Reserve Bank of Australia Further interest rate hikes could ‘devastate’ property market without easing unaffordability With RBA predicted to lift cash rate for fourth time this year on Tuesday, experts warn a fifth – or even sixth – rise would be ‘overkill’

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