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Albanese faces travel questions as Australian mortgage costs climb
Anthony Albanese faced questions about his overseas travel after telling camera operators to stop filming him during a visit to Antigua and Barbuda. The exchange came as Australian mortgage holders confronted another interest-rate rise, prompting critics to argue the Prime Minister should focus more on problems at home.
The Reserve Bank raised its cash rate by 0.25 percentage points to 4.85 per cent, its fifth increase this year and the highest level in 18 years. Modelling cited in the article estimates that a borrower with a 30-year, $600,000 mortgage taken out five years ago could now pay $4,056 a month, up $1,657 from the original repayment. Albanese says overseas forums advance Australia’s interests, while opposition figures criticise his travel plans, which include Turkey, the Philippines, China and the United States.
In short
- Australia’s cash rate rose to 4.85 per cent.
- A $600,000 mortgage repayment could be up 69 per cent.
- Albanese defended overseas travel amid calls to focus on domestic pressures.
Read the full article at the source →
Originally published by Daily Mail as “Albanese snaps at camera operators after questions about his travel schedule as Aussies are smashed by mortgage pain: ‘Stop, guys, stop’”.