Money magazine Comments - RBA passes on largest cash rate increase since 2000 Interest rates are now back to pre-COVID levels following the Reserve Bank's decision to lift the official cash rate by 50 basis points to 0.85% at its June board meeting. https://www.moneymag.com.au/feed/latest?story=179795417 Thu, 09 Jun 2022 10:51:04 +1000 Thu, 09 Jun 2022 10:51:04 +1000 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - RBA passes on largest cash rate increase since 2000 https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Milena Travica ()

Mortgage Repayments - I'm in my 70's and when managing mortgage repayments during 1970-1980's I would manage the loan repayments as follows:

- fortnightly payments instead of monthly - assisted reducing interest.

- most of salary transfered to mortgage loan account, utilising the 'redraw' facility on monthly basis to pay household expenses.

In addition, I purchase vacant block and built home (less stamp duty). This was repeated approx three times resulting in owning home in a few years.

Thank you

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]]> Milena Travica () Thu, 09 Jun 2022 10:51:04 +1000