RBA Expected to Raise Interest Rates – Local Family Says Mortgage Stress Is “Just Regular Stress With Extra Steps”

WESTERN SYDNEY – With all four major banks predicting the RBA will hike interest rates again Aboriginal families across the country have pointed out they’ve been in a cost of living crisis since 1788. 💸

“Interest rates going up? Bro our interest in being able to afford anything went down years ago” said single mum Jodie Carr from Mount Druitt.

The cash rate currently sits at 3.85 per cent with economists tipping another rise in March or May. Jodie said percentages don’t mean much when you’re already stretched. “They reckon monthly repayments will go up $91. That’s 91 dollars I was already spending on school lunches and trying to keep the electricity on.”

Treasurer Jim Chalmers has rejected claims government spending contributed to inflation. Jodie was not following the debate. “I don’t know what trimmed mean inflation is but I know what trimmed mean dinner looks like. It’s two-minute noodles with frozen peas.”

Property prices hit a record $912,465 median nationally in January. Jodie laughed. “Nine hundred grand? I can’t even afford the deposit on a decent pair of runners.”

Banks have begun factoring in rate hikes. Jodie said her bank factors in whether she’s eaten that week before approving anything.

When asked what she thought the RBA should do Jodie was direct. “Leave it alone. Go hike something else. Go hike up Uluru. Oh wait you can’t do that anymore either.”

At press time the RBA had not confirmed its decision but Jodie’s electricity bill had already gone up.