John MacKenzie chats with Roger Ward, Director of Cairns Mortgage Brokers and Senior Fellow of the Financial Services Institute of Australasia, about mortgage stresses as interest rates continue to rise.
Oct 13, 2022, 02:58 AM
John MacKenzie chats with Roger Ward, Director of Cairns Mortgage Brokers and Senior Fellow of the Financial Services Institute of Australasia, about the mortgage and financial stresses facing Cairns homeowners, as interest rates continue to rise.
The Reserve Bank of Australia raised rates to 2.6 percent, which is the highest it has been in seven years.
The rates rise will hit many hard as the cost of living has been dramatically increasing, including basic grocery, fuel, and utility prices.
The Reserve Bank of Australia raised rates to 2.6 percent, which is the highest it has been in seven years.
The rates rise will hit many hard as the cost of living has been dramatically increasing, including basic grocery, fuel, and utility prices.