Interest rates are one of the first things first home buyers focus on. In this episode, Jack Elliott and Chris Bates break down what an interest rate actually is, who sets it, and why it changes over time in clear, simple terms.

You’ll learn the difference between fixed, variable and split loans, how the RBA and banks each play a role in setting your rate, and why today’s rates feel so different compared to the Covid years.

Most importantly, we talk about how to plan for future rate changes so your repayments stay comfortable and you feel in control of your mortgage.

In this episode:

🔑 What an interest rate actually is and how it is charged

🔑 How the RBA cash rate, banks and risk all influence your rate

🔑 How to stress test your numbers and plan for future rate rises

🔑 Why your long term strategy matters more than chasing the lowest rate

Timestamps

00:00 - Introduction to Interest Rates

02:12 - What an Interest Rate Actually Is

03:43 - Fixed, Variable and Split Loans Explained

06:38 - Who Sets Your Rate and Why It Changes

12:51 - Interest Rate Trends in The Past

16:09 - How to Plan for Future Rate Movements

19:23 - Why Strategy Matters More Than the Rate

22:39 - Episode Wrap-Up and Key Takeaways

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ASX RBA Interest Rate Tracker

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