Australians could soon be paying more than $26 billion a year in extra mortgage repayments as interest rates begin to "normalise", but the Commonwealth Bank argues there are several reasons why most households will be able to cope just fine.
Key points: The RBA's interest rate decision will be announced at 2:30pm AEST, followed by a rare press conference from the governor No-one is expecting a rate rise, but there are likely to be announcements about the future of other measures that have kept mortgage rates very low CBA says households should be able to cope with a forecast rise in the cash rate from 0.1 to 1.25 per cent over the next two-and-a-bit yearsMortgage costs to jump as interest rate rises loom, warns CBA
Mortgage costs to jump as interest rate rises loom, warns CBA ahead of Reserve Bank meeting
By business reporter Michael Janda
CBA is expecting interest rates to rise earlier and faster than many other institutions. (ABC News: John Gunn)
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