 Rate change impact calculatorhttps://ratepool.com.au/calculators/rate-change Explore another scenario |
Rate change impact calculatorhttps://ratepool.com.au/calculators/rate-change Explore another scenario |
Quickly see what a higher or lower mortgage rate could do to your repayments and interest.
The starting figures are an example. Repayments are monthly.
$154.53more per month
Repayments are recalculated over the same remaining term.
Source: Ratepool calculation from your inputs. Monthly principal and interest; fees excluded. Annual figures and assumptions below.
An illustration, not a lender quote. The final repayment may differ.
Estimated repayments after the rate change applies now. Fortnightly figures are monthly differences converted to 26 equal amounts a year.
| Rate change | New rate | Monthly repayment | Monthly difference | Fortnightly equivalent | Annual difference |
|---|---|---|---|---|---|
| −0.50 pts | 5.50% | $3,070.44 | $151.07 less | $69.72 less | $1,812.84 less |
| +0.25 pts | 6.25% | $3,298.35 | $76.84 more | $35.46 more | $922.08 more |
| +0.50 pts | 6.50% | $3,376.04 | $154.53 more | $71.32 more | $1,854.36 more |
| +1.00 pts | 7.00% | $3,533.90 | $312.39 more | $144.18 more | $3,748.68 more |
| +2.00 pts | 8.00% | $3,859.08 | $637.57 more | $294.26 more | $7,650.84 more |
Scroll the table sideways to see both balances and interest amounts.
| Year | Balance: current rate | Balance: at the new rate | Interest: current rate | Interest: at the new rate |
|---|---|---|---|---|
| 1 | $491,099.77 | $491,744.45 | $29,757.89 | $32,256.93 |
| 2 | $481,650.59 | $482,936.01 | $29,208.94 | $31,704.04 |
| 3 | $471,618.61 | $473,537.66 | $28,626.14 | $31,114.13 |
| 4 | $460,967.87 | $463,509.88 | $28,007.39 | $30,484.70 |
| 5 | $449,660.23 | $452,810.52 | $27,350.47 | $29,813.12 |
| 6 | $437,655.15 | $441,394.61 | $26,653.04 | $29,096.57 |
| 7 | $424,909.62 | $429,214.15 | $25,912.59 | $28,332.02 |
| 8 | $411,377.98 | $416,217.94 | $25,126.48 | $27,516.27 |
| 9 | $397,011.73 | $402,351.35 | $24,291.88 | $26,645.89 |
| 10 | $381,759.41 | $387,556.09 | $23,405.80 | $25,717.22 |
| 11 | $365,566.36 | $371,769.97 | $22,465.07 | $24,726.36 |
| 12 | $348,374.56 | $354,926.62 | $21,466.32 | $23,669.13 |
| 13 | $330,122.40 | $336,955.23 | $20,405.96 | $22,541.10 |
| 14 | $310,744.49 | $317,780.28 | $19,280.21 | $21,337.52 |
| 15 | $290,171.39 | $297,321.14 | $18,085.02 | $20,053.34 |
| 16 | $268,329.39 | $275,491.81 | $16,816.12 | $18,683.15 |
| 17 | $245,140.22 | $252,200.53 | $15,468.95 | $17,221.20 |
| 18 | $220,520.80 | $227,349.39 | $14,038.69 | $15,661.34 |
| 19 | $194,382.90 | $200,833.93 | $12,520.22 | $13,997.02 |
| 20 | $166,632.87 | $172,542.68 | $10,908.09 | $12,221.23 |
| 21 | $137,171.29 | $142,356.70 | $9,196.53 | $10,326.51 |
| 22 | $105,892.57 | $110,149.12 | $7,379.41 | $8,304.90 |
| 23 | $72,684.66 | $75,784.54 | $5,450.20 | $6,147.90 |
| 24 | $37,428.55 | $39,118.50 | $3,402.01 | $3,846.44 |
| 25 | $0.00 | $0.00 | $1,227.49 | $1,390.84 |
Principal and interest, with monthly repayments at the end of each month. We divide the annual rate by 12 and compound monthly. Regular payments round to cents; the last payment clears the remaining debt. Displayed totals are rounded separately. Lenders often calculate interest daily and may use different payment dates or rounding.
The new rate applies immediately and repayments are recalculated over the same remaining term. Each scenario keeps its rate unchanged. This is a rate illustration, not a forecast or a full refinancing comparison.
Fees, taxes, future rate changes and other loan features are excluded. Interest savings are not net financial savings. At zero interest, paying sooner does not save interest. This tool does not assess affordability or eligibility.
Enter the mortgage rate you want to test, whether higher or lower. A move from 6% to 6.5% is an increase of 0.5 percentage points. A Reserve Bank cash-rate move does not guarantee the same mortgage-rate change because each lender makes its own pricing decision.
Moneysmart: mortgage calculatorEnter when your fixed period ends so the current rate applies until then. The comparison keeps the remaining term unchanged and excludes fees. If rates fall, test keeping your old payment to see how much earlier the loan could finish.
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