Earlier this week I showed how fixed rate mortgages have ratcheted up, rising by 0.48% (< 3 years) and 1.08% (>3 years) from their bottom last year:
The story is different for variable mortgage rates. These have continued to trend lower, with the average rate available for new mortgages hitting an all-time low 2.52% in January 2022.
As we know, economists and markets are predicting a sharp rise in the cash rate over the next two years as the Reserve Bank of Australia (RBA) seeks to normalise rates:
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