The Reserve Bank is set to raise the cash rate this afternoon for the second time in consecutive months. 7NEWS
“Any other type of debt, any other type of loan will take that rate as a starting point and then add a premium.”
As some mortgage holders struggle to make their repayments and are forced to sell their homes and downsize, the increased stock and flattened demand are likely to depress house prices across the country. “On average, Australian mortgage holders are 45 months, that is almost four years, ahead on their mortgage payments,” she told Sky News.“There are some people who are going to be finding even the smallest movement ... quite tough,” she said.Landlords experiencing interest rate rises that affect the mortgage repayments of their investment properties, could see them pass on that cost to their tenants.
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