May RBA Decision: Cash rate unchanged

By Mozo · · 2 min read
Fact Checked
Advertiser disclosure
  • Official Cash rate remains at 4.75%
  • Uncertainty abroad and Japan disaster cited
  • Recent CPI spike to settle within target

The Reserve Bank of Australia announced today that it will be keeping the cash rate steady at 4.75% despite rising inflation.

The RBA’s decision is aligned with the ongoing strategy of strengthening the Aussie economy on the back of the recent local and regional natural disasters. Uncertainty in the EU as well as a levelling-out of employment growth were quoted by RBA Governor, Glenn Stevens as being “accommodative” to today’s decision.

But despite the interest rate freeze, many economists expect the cash rate increase in the near future.

According to Paul Bloxham, a former Reserve Bank economist, last week's CPI numbers were “the beginning of the upward swing of inflation”, and we should expect the cash rate to increase around the start of the third quarter.
“We expect that the next rate rise will be in July or August and that we’ll get another 50 basis points this year, by the end of this year,” he said.

Make a preemptive strike against the coming rate rise

With many economists expecting imminent increases in the cash rate, some of you are probably suffering from mortgage stress. If so, then now might be a great time to compare home loans, and perhaps make a switch.
Switching from the Big Four Banks could save you as much as a full 1 percentage of interest. For the average $285,000 loan (based on ABS data) over 25 years, that's $184 per month, or $55,226 over the life of the loan.

Last updated 3 July 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.40 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
    • Built by CommBank
  • Promoted

    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.
  • Promoted

    Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.76 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.29 % p.a.
    Fixed 2 years
    Comparison rate
    5.72 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.40 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
    • Built by CommBank

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
    Variable
    Comparison rate
    5.52 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.76 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Flex Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.53 % p.a.
    Fixed 2 years
    Comparison rate
    5.86 % p.a.
    Initial monthly repayment
    $2,848
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility

  • Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.54 % p.a.
    Variable
    Comparison rate
    5.57 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Split loan available

  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.54 % p.a.
    Variable
    Comparison rate
    5.58 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Basic Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.63 % p.a.
    Variable
    Comparison rate
    5.66 % p.a.
    Initial monthly repayment
    $2,880
    Go to site
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options

  • Neat Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
    5.66 % p.a.
    Initial monthly repayment
    $2,883
    Go to site
    • Free extra repayments
    • Easy redraw facility
    • No annual fee to pay

  • Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
    5.67 % p.a.
    Initial monthly repayment
    $2,883
    Go to site
    • No ongoing monthly loan maintenance fees to pay.
    • Pre-approval valid for 3 months

  • Flex Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
    5.89 % p.a.
    Initial monthly repayment
    $2,883
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility

  • Offset Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.84 % p.a.
    Variable
    Comparison rate
    5.87 % p.a.
    Initial monthly repayment
    $2,947
    Go to site
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options
Showing 13 results from 408 home loans. Use the filters to see more

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.