The Reserve Bank is expected to make history today by handing down a fourth consecutive interest rate rise.

The cash rate is predicted to rise by another half a percentage point to 1.85 per cent.

This increase will mean a mortgage holder with a $750,000 loan will face a monthly increase of $211.

Interest rates are set to rise yet again. (A Current Affair)

Since May, that hypothetical homeowner has had an extra $708 tacked on to their repayments.

Another increase would see interest rates rise to the highest level in six years.

And there are fears the RBA could lift rates even higher than predicted.

Experts say the more rate hikes we see and the bigger they are, the more downward pressure it will place on the property market, after national housing prices fell for their third month in a row in July.

RBA governor Philip Lowe, is facing fresh criticism for remarks he made last year when he said it was likely the cash rate would remain at 0.1 per cent until at least 2024, and the rising cost of living is causing a political fight.

Prime Minister Anthony Albanese says members of the Coalition are kidding themselves if they argue that rates would not have risen under them.

Buzz Aldrin’s moon mission jacket sells for nearly $4 million

You May Also Like

Gigi Hadid looks sensational as she shows some leg in pink cashmere sweater from her brand

SUPERMODEL Gigi Hadid is keen to show off her knotty side in…

Bill Hicks Net Worth

What Was Bill Hicks’ Net Worth? Bill Hicks was an American stand-up…

Twiggy: Rise of weight loss jabs stops me being blamed over ‘promoting anorexia’

By JO MACFARLANE FOR THE MAIL ON SUNDAY Published: 19:54 EST, 8…

A Halfway Sensible Column on Drug Abuse and Progressive Permissiveness

I definitely can’t vouch for everything in this column by Nicholas Kristof…