The good news about interest rates is that it appears we are at, or near, the end of the cycle of rising mortgage rates.

That’s if you can believe the words of the Reserve Bank Governor, Philip Lowe.

But of course, we can’t believe him because he’s the guy who kept telling us he wouldn’t be lifting interest rates before 2024, just months before he started lifting interest rates 10 months in a row.

That’s Philip Lowe who earns over $1 million a year and bought his Sydney home with a special cut-price loan available only to elite privileged people, so he doesn’t understand the pain he’s inflicting on households around Australia.