As we grow older and enter our *golden years*, many of us may require additional care and support to maintain our quality of life. Aged care can help seniors live comfortably and independently by providing a range of services tailored to meet individual needs. However, the question that often arises is, “How much does aged care in Australia cost?” There …
How the Increasing of Interest Rates Affects Aged Care
Whether you’re an investor or borrower, you would be very aware of the recent increases to interest rates. On April 1, 2023, the aged care interest rate (also known as the Maximum Permissible Interest Rate, or MPIR) increased to 7.46%. This marks the sixth consecutive rise since October 2021 when the rate was merely 4.01% p.a. The new rate applies …