{"id":38421,"date":"2025-09-23T09:26:06","date_gmt":"2025-09-23T09:26:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/38421\/"},"modified":"2025-09-23T09:26:06","modified_gmt":"2025-09-23T09:26:06","slug":"millions-of-aussies-worse-off-financially-after-rate-cuts","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/38421\/","title":{"rendered":"Millions of Aussies worse off financially after rate cuts"},"content":{"rendered":"

\"RBA<\/p>\n

RBA Governor Michele Bullock. Picture: Martin Ollman<\/p>\n

The RBA have slashed the cash rate three times this year, saving average borrowers more than $3000 a year, but not everyone is happy, a new report has revealed.<\/p>\n

The research, carried out by Finder revealed there are a staggering number of Aussies who claim the rate cuts have actually made them worse off.<\/p>\n

In the survey of 1004 Australians, people were asked what impact the last three rate cuts had had on their financial situation.<\/p>\n

Almost one in five (19 per cent) said the last three rate cuts have actually worsened their financial situation.<\/p>\n

That\u2019s up to a whopping 4.1 million people nationwide who don\u2019t think they\u2019ve benefited from the rate cuts.<\/p>\n

And with the central bank set to meet again next week, there\u2019s a slim chance things could get worse again.<\/p>\n

MORE: Big 4 banks make rate cut predictions<\/a><\/p>\n

\"\"\/<\/p>\n

Finder\u2019s home loan expert Richard Whitten.<\/p>\n

A similar amount (20 per cent) \u2013 4.3 million people \u2013 say interest rate reductions have improved their financial situation.<\/p>\n

A further 61 per cent say the rate easing has had no major impact on their situation at all.<\/p>\n

le many celebrated the Reserve Bank\u2019s interest rate cuts, not everyone is better off, with millions claiming their financial situation has worsened, according to new research by Finder.<\/p>\n

Borrowers celebrated their big win, with 33 per cent benefiting from reduced mortgage repayments, increased borrowing capacity (16 per cent), and the ability to pay off their mortgage quicker (14 per cent).<\/p>\n

Savers got the short end of the stick, with 40 per cent saying their nest eggs are worse off due to lower interest rates.<\/p>\n

Richard Whitten, home loans expert at Finder, said not everyone sees interest rate cuts as a win.<\/p>\n

MORE: Australia\u2019s secret growth suburbs revealed<\/a><\/p>\n

\u201cFor millions of Australians, the recent rate cuts have been a long awaited moment of relief,\u201d he said. \u201cMany homeowners are finally breathing easier after a period of rising costs and financial pressure.<\/p>\n

\u201cBut for a significant portion of the population, their savings returns have taken a hit and are growing at a much slower rate.\u201d<\/p>\n

Whitten said for those looking to get into the property market, a rate cut is a significant boost.<\/p>\n

\u201cRate cuts directly increase borrowing capacity, which can be the difference between getting a foot in the door or being priced out.<\/p>\n

\u201cLower repayments also mean more peace of mind, meaning first home buyers can enter the market with more confidence.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"RBA Governor Michele Bullock. Picture: Martin Ollman The RBA have slashed the cash rate three times this year,…\n","protected":false},"author":2,"featured_media":38422,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-38421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/38421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=38421"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/38421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/38422"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=38421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=38421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=38421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}