How the latest RBA interest rate rise will impact WA, the most mortgaged state in Australia

 Western Australia is by far the most mortgaged state in Australia, but the latest rate rise does not mean it is all doom and gloom.

Yesterday's decision by the Reserve Bank of Australia to increase the cash rate target to 2.35 per cent means an average West Australian household will be paying an extra $621 on their mortgage each month.

That is below the national average of $653 though, because West Australian houses tend to be cheaper.

According to the most recent census data, West Australians paid $21 less towards their mortgage each month in August last year, compared to the rest of the country.

Read More: https://www.abc.net.au/news/2022-09-07/how-rba-interest-rate-rise-will-impact-western-australia/101412084



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