Mortgage holders breathed a sigh of relief yesterday after the Reserve Bank board held the official cash rate steady at 4.1%. After lower-than-expected inflation figures/strong retail and housing data, economists were split on what would happen… But after consideration, the central bank said “substantial slowing” in household spending and a “painful squeeze” on some households’ finances led to the decision to leave things where they are. Governor Philip Lowe said the team are assessing the state of the Aussie economy and the impact of 12 rate hikes since May 2022, but further rate hikes “may be required”. It follows new data from Roy Morgan that 28.8% of the nation’s mortgage holders were considered at risk of mortgage stress in the 3 months to May – the highest number in 15 years.