{"id":84637,"date":"2023-11-06T05:59:43","date_gmt":"2023-11-06T05:59:43","guid":{"rendered":"https:\/\/mylifestylemax.com\/?p=84637"},"modified":"2023-11-06T05:59:43","modified_gmt":"2023-11-06T05:59:43","slug":"mortgage-calculator-how-much-extra-will-your-repayments-cost","status":"publish","type":"post","link":"https:\/\/mylifestylemax.com\/lifestyle\/mortgage-calculator-how-much-extra-will-your-repayments-cost\/","title":{"rendered":"Mortgage calculator: How much extra will your repayments cost?"},"content":{"rendered":"
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Interest rates have risen again.<\/span>Credit: <\/span>Aresna Villanueva<\/cite><\/p>\n
The Reserve Bank of Australia has dropped another interest rate increase, taking it to an 11-year high.<\/p>\n
On Tuesday, the RBA board lifted the cash rate by another 25 basis points to 4.1 per cent.<\/p>\n
Use our mortgage repayment calculator below to see what Tuesday\u2019s increase of 25 points (the left toggle button) means for your repayments.<\/strong><\/em><\/p>\n
Enter your loan amount, the length of your loan, your existing interest rate, then click the +0.25 per cent rise for the latest hike to get your extra monthly repayment.<\/p>\n
Calculations are based on monthly fixed interest rate increases on principal loan amount excluding requisite monthly repayments, adjustments to repayment amounts, or additional repayment instalments.<\/p>\n
Lenders make individual choices on what is passed on from the RBA so check with your lender.<\/p>\n