How the change to interest rates affects you

<p>Yesterday afternoon, the Reserve Bank of Australia announced it is lowering the cash rate for the first time since 2020.The cash rate was 4.35%, but it is now 4.1%.It&rsquo;s big news for Aussies, particularly those with a mortgage or who are wanting to apply for a home loan for the first time, and it&rsquo;s also big news for the Labor Government - with this likely now impacting when we will go to an election.If you&rsquo;re confused about any of that, you&rsquo;ve come to the right place. We&rsquo;re here to discuss what a cash rate actually is, and how it will affect you whether you have a mortgage or not.</p> <p>Hosts: Billi FitzSimons and Sam Koslowski<br />Producers: Elliot Lawry</p> <p>Want to support The Daily Aus? That's so kind! The best way to do that is to click &lsquo;follow&rsquo; on Spotify or Apple and to leave us a five-star review. We would be so grateful.</p> <p>The Daily Aus is a media company focused on delivering accessible and digestible news to young people. We are completely independent.</p> <p><strong>Want more from TDA?<br /></strong><a href="https://thedailyaus.com.au/newsletter/">Subscribe to The Daily Aus newsletter</a><br /><a href="https://www.youtube.com/@thedailyaus">Subscribe to The Daily Aus&rsquo; YouTube Channel</a></p> <p><strong>Have feedback for us?<br /></strong>We&rsquo;re always looking for new ways to improve what we do. If you&rsquo;ve got feedback, we&rsquo;re all ears.&nbsp;<a href="https://thedailyaus.typeform.com/to/D0EhJI4S">Tell us here</a>.</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>