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## __FEBRUARY'S CASH RATE STAYS UNCHANGED AT 1.50 PER CENT__

Interest rates may be on hold for now but they are tipped to go up this year. In any case, your bank can increase their rates regardless of the RBA’s monthly decision. 

## How will your repayments change with a higher rate?

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As a property owner, you don’t have to sit and wait in hope that the bank or RBA will move rates in your favour. If you want to save on your interest repayments, ask your bank for a better deal or talk to one of Lendi’s Home Loan Specialists who can show you exactly what is on offer from more than 35 lenders. You might be surprised by the difference between what your bank is charging you and what is on offer in the market.

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## So, what is the RBA cash rate update?
On the first Tuesday of every month (except in January), the Reserve Bank of Australia (RBA) sets the cash rate. They decide whether to raise it, lower it or leave it the same, depending on a number of factors, including the performance of the Australian dollar, the state of the housing market and inflation. 
 
The last time the cash rate rose was in November 2010. Since then, the general trend has been for the rate to remain the same, decreasing only every so often. The last decrease was in August 2016.

## Can the RBA cash rate update affect my home loan repayments?
Keep an eye on your lender’s rate because even the slightest interest rate rise can make a considerable dent in your monthly budget. If you do find yourself struggling with increased repayments, speak to a Lendi Home Loan Specialist about switching your loan to a lower rate option. 

Are you suffering from mortgage stress? [Read our tips on how to avoid it altogether](https://www.lendi.com.au/inspire/finance/avoiding-mortgage-stress-and-defaulting/). 

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