Major lenders will sharpen their pencils with “cheap” fixed-rate home loans ahead of a wave of homebuyers having to refinance as their ultra-cheap fixed-rate mortgages secured during the pandemic end.
The first wave of fixed-rate borrowers, who typically locked in two-year home loans in 2020 when the Reserve Bank of Australia’s cash rate was a record low 0.1 per cent, have already starting to come off.
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Duncan Hughes is a Walkley award-winning personal finance reporter, based in our Melbourne newsroom. Connect with Duncan on Twitter. Email Duncan at duhughes@afr.com.au
Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
