The CEO of one of the big four banks has predicted more interest rate hikes for homeowners, who are already struggling to keep up with soaring household pressures.
Mr McEwan's latest comments mark a grim warning for the 800,000 borrowers estimated to experience massive mortgage shock as fixed term contracts end amid nine consecutive cash rate increases by the RBA.
NAB CEO Ross McEwan has warned home owners of further interest rate hikes. Picture: NCA NewsWire / David Crosling “So I think we’re in for another at least two, possibly three more interest rate rises over the next six months.” He urged home owners to contact NAB as soon as possible if they fear falling behind on their repayments. Picture: NCA NewsWire/ David Crosling
“There are some good deals out there and people should hunt them down and take them,” he said in the House of Representatives in February.
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