Reply To: Can we do this – Freeze the rate rises

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#20938
GF
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I think RBA is independent of political influence. By that I mean incoming political influence. Fairly clear they have outgoing political influence.

They have flagged 6 rate rises for 2022.

Many years ago home loan rates were 17%. I would plan accordingly.

If you haven’t watched the KYRG videos on BitChute you might find it interesting. Mike has some advice for home owners. Basically, if things are tight now, perhaps it would be a good idea to reduce debt, including home loans. Expecially to avoid a forced fire sale. If a home is sold below the outstanding loan amount + foreclose fees, the mortgagor is on the hook for that difference. If a lot of people are selling prices will fall. Mainly because people borrowing money won’t be able to borrow as much.