When will mortgage rates go down? Here’s what Australia’s biggest banks say

Australia’s biggest four banks are all predicting the Reserve Bank of Australia (RBA) will cut the official cash rate from 4.35 per cent at its February meeting, with NAB joining its competitors in forecasting a cut. ANZ, CBA, and Westpac expect multiple cuts in a potential cycle, while Wednesday’s inflation figures support the likelihood of a rate reduction. If passed on by banks, a 0.25 per cent cut would lead to monthly mortgage repayments on a $600,000 loan dropping by $92, providing relief for borrowers struggling with high repayments.

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