Luke is joined by Effie Zahos, Today Show’s Money expert & Canstar’s Editor-at-Large, whose recent research indicates that despite the cash rate being stable since July, interest rates have been climbing over the past three months.

Their findings reveal that 48% (43 out of 90) of variable rate lenders on Canstar.com.au have raised their variable rates by an average of 0.15% after the July cash rate decision.

Additionally, fixed rates have also witnessed significant increases during this period, with 81% (65 out of 80) of fixed-rate lenders increasing their fixed rates by an average of 0.27%. Notably, shorter-term fixed rates, specifically those for one and two years, have seen the most lenders increasing interest rates following the July cash rate decision.

Given the recent decision by the RBA to keep the cash rate unchanged, the question arises: why are interest rates on the rise?

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