Five straight months at 4.35% now. Long enough that I've started calling it a plateau in conversation rather than a pause, though I'm aware that's more about my own patience running out than any actual signal from the RBA.
Inflation's still not comfortably back in the target band, which is presumably why nothing's moved yet. The market, for its part, has stopped pricing in the drama either way. Fixed rate offers have settled into a pattern. Buyers have adjusted to this being the new normal rather than a temporary peak to wait out.
I think that adjustment, buyers accepting 4.35% as simply the cost of doing business rather than a ceiling to wait below, is quietly one of the more important shifts of the year. It removes a whole category of hesitation from the market.