The Reserve Bank of Australia (RBA) has increased interest rates by 0.5 percentage points.
That means the cash rate is now 1.35 per cent, up from 0.85 per cent last month.
If you're on a variable rate, this means your repayments will probably increase too.
This repayments calculator shows how much extra you may have to pay each month following the latest rate rise.
Plug in your current loan size, term and interest rate along with the rate rise of 0.5 per cent for July to see the difference.
Individual lenders decide how much of the RBA rate rise to pass on and this estimate does not factor in any bank fees or charges, so check with your lender to get an exact amount.
