Business
‘Scrambling’: Why your home loan could cost $21,000 more – Yahoo Finance Australia
As bank profits tumble, home loan rates could jump.
Australian home owners could be paying an extra $20,993 over the life of their loan if banks decide to increase variable home loan rates in 2021, according to new data.
More than half of experts and economists surveyed by Finder believe banks will increase variable home loan rates next year, despite the Reserve Bank of Australia predicting the official cash rate to remain at 0.25 per cent for the foreseeable future.
When asked when Aussies could expect banks to make the move, half of the respo…
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