The RBA's Rate Decision for Mortgage Holders

The RBA decided to hold interest rate steady of 4.1%. Rates will not be going up this month, which is obviously a positive move for mortgage holders. Interest on those loans will be about tripling when they roll over and that means the average mortgage payment will rise 65% overnight. There's only about 10 million mortgages in Australia. So it represents a very large chunk of overall mortgages in Australian.