‘We never would have bought’: Australian mortgage holders feel the pain as interest rates rise again

The RBA’s widely anticipated decision marks the end of the shortest rate-cutting cycle in the reserve’s modern history, hitting mortgagees hard

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As the RBA lifted the official interest rate on Tuesday, one regional New South Wales couple said the dream of building a home has turned into a financial “hustle” they no longer want to maintain.

After the pair, 25 and 26, settled on land in September 2022, rising rates and cost of building materials decimated their initial budget.