Mornings With John Mackenzie

John MacKenzie chats with Roger Ward, Director of Cairns Mortgage Brokers and Senior Fellow of the Financial Services Institute of Australasia, about the Reserve Bank of Australia's interest rate rise of 25 basis points to 3.35 percent. It is being predicted that there will be a noticeable dent in the number of prospective first-home buyers looking to enter the market in Far North Queensland as the repayments on a $500,000 property will increase by approximately $76 per month. This is the Reserve Bank of Australia's 9th interest rate rise since May 2022.