How much will mortgage rate increases bite?

Recent first-home buyers will feel the most pain from rates increases. (Image: Deposit Photos)

Mon, 19 Jul 2021

Just like that mortgage rate increases are upon us and the pain will not be shared equally.With three quarters of mortgage debt due to re-fix in the coming 12 months, the impact of increases will quickly flow into the wider economy.Forecasters expect rates to continue going up periodically for the next couple of years until rates hit 4%.At this point, it should be noted all economist forecasts – especially covid-era ones – are subject to revision in short order. It was only a matter of weeks ago no one was expecting rates to increas...

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