Guide 2 min read

Rates are up again – here’s what to know

Rates are up again – here’s what to know

05 May 2026

The RBA has increased the cash rate by 0.25%, bringing it to 4.35%.

While rate rises have been expected, that doesn’t make them any easier — especially when you’re managing a mortgage alongside everyday costs.

This marks the third increase in 2026, with ongoing global pressures continuing to push inflation higher.

What this means for you

For a $600,000 mortgage, repayments could increase by around $91 per month.

It’s a relatively small change on paper, but over time, these increases can start to add up.

“Rate movements are a normal part of the economic cycle – but that doesn’t make them any easier when you’re managing a mortgage and a household budget. The most important thing right now is not to sit on your hands. If you’re unsure how today’s decision affects your repayments, or whether your current loan is still the right fit, pick up the phone. A quick conversation could save you thousands. That’s exactly what we’re here for.” – Brad Linford, Head of Finance

Here’s what our Managing Director, Adam Schaal, has to say

If you’re unsure how this change impacts you, we can walk you through your options and help you understand what makes sense for your situation, now and longer term.

Locale Financial Enquire

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