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Today on the show we discuss why the effects of the recent RBA interest rate rises have been slow to affect the housing market and the broader economy.
During the pandemic as a result of the restrictions imposed many Australians built up large savings balances or got ahead on their mortgage commitments. This wealth boost has meant that a lot of people haven’t yet felt the impact of rising interest rates because they have large cash resources to draw from.
Importantly as well c 20% of home loans are still on cheap fixed rates so many borrowers have not yet been affected by the higher interest rates environment.
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