Reported at www.abc.net.au: The RBA has reduced the cash rate by 0.25 percentage points to 4.1%, marking the first cut after over four years of increases.

This rate drop will lower mortgage repayments for borrowers on variable rates, depending on whether their banks pass on the full benefit of the cut.

This mortgage repayment calculator for borrowers will estimate potential monthly savings based on loan size, term, and interest rate.