<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian </span><a href="https://www.9news.com.au/mortgages" rel="" target="_blank" title="mortgage holders"><span>mortgage holders</span></a><span> will soon feel the sting of the </span><a href="https://www.9news.com.au/interest-rates" rel="" target="_blank" title="Reserve Bank of Australia's"><span>Reserve Bank of Australia's</span></a><span> (RBA) </span><a href="https://www.9news.com.au/national/rba-interest-rates-the-reserve-bank-has-hiked-interest-rates-how-much-will-this-cost-me/230033ae-0a25-489c-bafb-7d5d7505cade" rel="" target="_blank" title="latest rate hike"><span>latest rate hike</span></a><span> as the big four banks pass it on in full from today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The RBA raised the official cash rate target to 4.10 per cent last week, a hike of 0.25 basis points.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Variable borrowers with CBA, NAB and ANZ had their mortgage rates increased this morning.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LIVE UPDATES:</span></strong><span> </span><a href="https://www.9news.com.au/national/us-israel-iran-war-live-updates-march-27-donald-trump-latest-world-news-headlines/360c2a9e-82b1-4a00-88b0-0938f1e38e40" target="_blank"><strong><span>Trump hits out at Australia, UK and NATO over lack of help against Ira</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>CBA and NAB have also increased fixed rates by up to 0.30 and 0.35 percentage points respectively.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Their lowest advertised fixed rates for a one-year term are now 6.49 per cent and 6.04 per cent, respectively.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>ANZ's lowest advertised fixed rate is hovering at 5.99 per cent.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/mortgage-rate-increase-big-four-banks-pass-on-rba-hike/f00e085d-8077-44f2-92b5-22cbee5b7442" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Westpac customers won't be slugged with the rate hike until Tuesday, March 31.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/donald-trump-signature-us-currency-dollars-money-treasurer-usa-politics-news/1e7cf4cd-6a06-48a0-a2e1-43656f80895a" target="_blank"><strong><span>Donald Trump to put his name on all US paper money</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It will offer the lowest advertised variable rate at 5.74 per cent once the new rates are in effect across all four big banks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The only other big four bank offering an advertised variable rate under 6 per cent is CBA at 5.84 per cent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Westpac also currently offers the lowest fixed rate, but that could change in the coming days.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Most mortgage holders will be hit with higher rates right away, which will sting when combined with the RBA's February rate hike.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Variable borrowers across the country are now having to brace for the second cash rate hike in as many months, while staring down the barrel of a potential third hike as soon as May," Canstar data insights director Sally Tindall said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Mortgage holders with a debt of $500,000 could pay at least $151 more per month with the cumulative increase from February and March, according to data from Canstar.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/jd-vance-iran-suicide-vests-nuclear-dirty-bomb-atomic-weapon-iran-latest-news-updates/14a8fc31-fa0d-46fb-8908-40b61a073e2f" target="_blank"><strong><span>Iran could develop nuclear suicide bomb vests, claims JD Vance</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Those paying the minimum on their monthly repayments will have a few weeks to prepare for this latest rate increase before it hits.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>That's because the big four banks must provide written notice of the changes; at least 20 days' notice for CBA, and at least 30 days' for the other three.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Make no mistake, banks are starting to charge customers higher rates from today, but be aware there's a significant delay between today and when that extra money comes out of your bank account, for those paying the minimum," Tindall said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Customers might think they've successfully accounted for two hikes, when in actual fact they might not have even started paying for the first one."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Borrowers who can't meet the higher repayment amount can request a rate review or rate reduction.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>They can also contact their bank, which may be able to help them switch to interest-only or make reduced payments for a period of time, or extend the loan term.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The National Debt Helpline also offers free financial advice.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/kyle-sandilands-court-showdown-arn-over-100-million-contract/c912ae08-12d0-4118-bb60-60c0184a0e50" target="_blank"><strong><span>Kyle Sandilands addresses media after exiting court in $100 million showdown with ARN</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There's almost certainly more pain ahead for borrowers, with all four big bank economists forecasting another 0.25 percentage point hike in May," Tindall said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If you've got a mortgage, work out what your repayments might look like if rates rose not just in May but again later in the year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"You want to make sure this figure fits in your budget alongside the other rising cost-of-living pressures."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and 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