US EditionIf the RBA’s rate is 4.10% why are you paying 6%?
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If the RBA’s rate is 4.10% why are you paying 6%?
With the Reserve Bank of Australia's (RBA) cash rate at 4.10 percent, many Australians are wondering why their mortgage interest rates remain significantly higher. The answer is simple: banks are making substantial profits from you and countless others. Despite some recent reductions, most variable home loan rates remain above six percent and for many customers, these rate cuts won't take effect until March. Banks justify this discrepancy by us…
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