Yes, rising interest rates in Australia are making a clear impact on mortgage affordability and how people borrow. As rates go up, monthly repayments increase, which means homebuyers can often borrow less and need to reassess their budgets. Many are now looking at smaller properties or choosing to delay buying altogether. At the same time, more people are refinancing their loans to find better deals. These changes show how interest rates directly influence decisions in the housing and lending markets.