Homeowners brace for rising interest rates

It's uncertain times for homeowners with a mortgage as they brace for more interest rate rises and some serious belt-tightening.

The Reserve Bank is widely expected to raise the benchmark rate to an almost six year high today as it wages war on inflation.

And for many with looming deadlines to re-fix their home loans it's a world away from the historic low rates of just a year ago.

Jake McKee reports.