Homeowners miss out on a trifecta of cuts as RBA holds rates
The cash rate has been held steady by the Reserve Bank, despite predictions from the nation’s major banks.

The cash rate has been held steady by the Reserve Bank, despite predictions from the nation’s major banks.
The board of the Reserve Bank of Australia (RBA) has held the cash rate steady at 3.85%, dashing hopes that home loan borrowers may have had of a July rate cut.
After two solid years of cash rate hikes and a lengthy pause throughout 2024, the central bank began cutting rates in February of this year, as inflation began to ease in the economy.
Following another rate cut in May, economists at the nation’s big four banks – ANZ, CommBank, NAB and Westpac – had all predicted that the RBA would cut again in July.
Now, all eyes will be on the bank’s August meeting, to see if they deliver any further rate relief to borrowers who are still feeling the pain from the cost of living crisis and the significant rate hikes of 2022-2023.
The comparison rate for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.
^WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Up to $4,000 when you take out a IMB home loan. Minimum loan amounts and LVR restrictions apply. Offer available until further notice. See provider website for full details. Exclusions, terms and conditions apply.
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How can you save on your home loan?
If you were hoping for a July cash rate cut to bring you some mortgage release, then there’s no reason you can’t look around for a better rate.
Figures from the Australian Bureau of Statistics (ABS) showed that almost 100,000 home loans were refinanced in the first three months of 2025, with borrowers looking for better deals, and if you feel you’re paying too much, now could be the time to consider your options.
When rates were low throughout 2022, numerous banks and lenders were offering cashback deals to tempt refinancers, and while there are still a number of these days active today, banks and lenders have switched to offering competitive rates to attract customers.
“It’s essential for borrowers to recognise the power they hold,” said Canstar’s data insights director, Sally Tindall. “Negotiating with lenders, or even switching to a more competitive offer, can translate to substantial savings.”
This article was reviewed by our Finance Editor Jessica Pridmore and Content Editor Alasdair Duncan before it was updated, as part of our fact-checking process.

Alasdair Duncan is Canstar's Content Editor, specialising in home loans, property and lifestyle topics. He has written more than 500 articles for Canstar and his work is widely referenced by other publishers and media outlets, including Yahoo Finance, The New Daily, The Motley Fool and Sky News. He has featured as a guest author for property website homely.com.au.
In his more than 15 years working in the media, Alasdair has written for a broad range of publications. Before joining Canstar, he was a News Editor at Pedestrian.TV, part of Australia’s leading youth media group. His work has also appeared on ABC News, Junkee, Rolling Stone, Kotaku, the Sydney Star Observer and The Brag. He has a Bachelor of Laws (Honours) and a Bachelor of Arts with a major in Journalism from the University of Queensland.
When he is not writing about finance for Canstar, Alasdair can probably be found at the beach with his two dogs or listening to podcasts about pop music. You can follow Alasdair on LinkedIn.