Millions of Aussies' mortgage repayments haven't reduced since rates were cut. Here's why

Millions of Aussies' mortgage repayments haven't reduced since rates were cut. Here's why

Millions of households are being urged to check their mortgage repayments, with just one of the big four banks automatically reducing direct debit amounts in line with the Reserve Bank's (RBA) rate cuts.All big four banks passed on May's interest rate cut to their variable home loan customers, which slashed the official cash rate by 25 basis points to 3.85 per centFor the average owner-occupier loan of $660,000, the latest rate cut equates to $2…