Can you afford an extra grand a month on your mortgage repayment? If interest rate predictions from three-quarters of economists are correct - Christmas will be a lot less jolly in July and just before Santa arrives; a complete nightmare.
Reserve Bank governor, Philip Lowe, warned Australians to prepare for higher interest rates, saying inflation will likely reach 7% by the end of the year.
The big bank premonitions on cash rates
- CBA - 2.10 per cent by November
- Westpac - 2.10% by years end and 2.35 early February 2023
- NAB - 2 per cent by the end of this year
- ANZ - Two more hikes in 2022
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Until next time and thanks for yours!