<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Mortgage holders are widely predicted to get more relief tomorrow, as the RBA makes its latest interest rate decision.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Westpac, Commonwealth Bank and NAB are all predicting an interest rate cut after July's meeting, while ANZ is holding on to its forecast for a cut in August.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If the central bank moves to slash tomorrow, it will likely bring the cash rate down 25 basis points to 3.60 per cent.</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>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/red-sea-ship-attack-crew-of-liberia-flag-greek-owned-ship-abandon-it-after-attack-uk-military-says/4156be03-d459-4352-a2b7-94c9a01034c8" target="_blank"><strong><span>Crew abandons ship in Red Sea after 'drone boat' attack</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Such a cut will be welcomed by home owners who have been squeezed by the continuing hikes.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Money.com.au has crunched the numbers to reveal how much Aussies could save on their monthly mortgage repayments.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If the 0.25 per cent July cut goes ahead as forecast, a borrower with a $600,000 mortgage could save an additional $90 a month, bringing their total monthly savings to $273 since the RBA began cutting rates.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/interest-rates-rba-australia-savings/4d05cf8f-2ac6-4bdc-a2c8-5e3e75884f70" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Owners with a $700,000 mortgage would save $106, while an extra $120 would be left in the bank for families with an $800,000 loan.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A borrower with a $1 million mortgage would save $150 a month from the July cut alone, bringing their total monthly savings to $456.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The savings are based on a starting home loan interest rate of 6.24 per cent, the average in February 2025, and a 25-year loan term.</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/finance/us-dollar-falling-why-worlds-king-currency-going-backwards-explained/a7d39032-98ca-4509-ae72-1967171b6ec6"><strong><span>The world's most important currency is suddenly sliding backwards</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Money.com.au's Mortgage Expert, Debbie Hays, says a July rate cut would shift the dial for borrowers.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Based on conversations we've had with borrowers, it's this third rate cut — the rule of three in action — that they believe will finally bring meaningful relief to their household budgets," Hays said</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"After rate hikes in 2022 and 2023, and a sustained period of higher repayments, many are now watching closely to see if and when their lender passes on the cut in full," she says.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's an additional welcome boost at a time when people are receiving their tax returns — any extra breathing room in the budget is being gratefully received right now."</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/war-medals-jewellery-stolen-in-break-ins-toorak-melbourne/d04e0205-2209-4c83-ba95-b807f88be90c" target="_blank"><strong><span>Late mum's war medals, $75,000 of jewellery stolen as neighbours burgled in Melbourne</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"For those still waiting to enter the property market, a third rate cut could boost their borrowing capacity by up to $50,000 — depending on the lender.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"While that might open the door to an extra bedroom or a more desirable suburb, it's also a double-edged sword, as it will fuel higher property prices and increased competition from other buyers with the same boost in borrowing power."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>:</span></em></strong><span> </span><em><strong><span>Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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