Mortgage shock beckons for 2021 – MacroBusiness

More than half of experts and economists surveyed by Finder believe that Australia’s banks will lift variable mortgage rates next year out of cycle with the Reserve Bank of Australia (RBA):
When asked when Aussies could expect banks to make the move, half of the respondents said banks were likely to announce out-of-cycle rate hikes during the first half of 2021.
Banking profits have nosedived off the back of billions of dollars worth of loan deferrals, a shrinking pool of first-time buyers, lo…

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