Fixed Rate Ending? How To Avoid Falling Off A ‘Mortgage Cliff’
“Many people expected that rate hikes were coming, although I think the aggressiveness of the hikes has been surprising,” says Adele Andrews, director and finance and mortgage broker at Australian Property Home Loans.
Those most at risk of mortgage stress are first home buyers who bought a home in the last couple of years at a very high LVR [Loan-to-Value Ratio], because the amount outstanding is significant and increasing due to interest rate hikes.
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