RBA Boosts Interest Rates to Highest Level in 15 Years

The Reserve Bank of Australia (RBA) has increased interest rates for the fourth time in 2026, raising the cash rate target to 4.60 per cent.

This is the highest level in 15 years, up from 4.35 per cent. The increase of 25 basis points will have a significant impact on mortgage repayments.

Using our mortgage calculator, a $600,000 loan over 25 years at 6.50 per cent would see an extra $93 each month in repayments.

The RBA confirmed the rate rise during its latest meeting, and commercial banks will now apply this decision to their own mortgage rates.