Why it matters: Around $350 billion in mortgages will roll into variable rates in 2023.
It prompted fears that borrowers would struggle with far higher repayments.
But NGM CEO Bernadette Inglis says the out-sized focus led bankers to being “apprehensive”.
Bernadette Inglis thinks the so-called “mortgage cliff” was overhyped.
Coined to describe the phenomenon whereby $350 billion in ultra-low fixed rate mortgages rolled off this year to more expensive variable rates, it stoked fears that delinquencies would spike among borrowers.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
