The full impact of Interest Rate hikes will not be felt for another 12 months.
During the pandemic, the percentage of home loans on fixed interest rates doubled from 20% to 40%, as households looked to lock in cheap rates.
However, the majority of these fixed, low interest rate loans are due to expire in the next 12 months. 65% of fixed-rate loans outstanding in early 2022 will expire by the end of 2023.
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