Original article by Patrick Commins
The Australian – Page: 4 : 19-Mar-24

The Commonwealth Bank’s head of Australian economics Gareth Aird notes that the worst fears about the so-called ‘mortgage cliff’ have not eventuated. However, he adds that the shift from fixed to variable-rate home loans has had an impact on many households’ spending. Meanwhile, it is estimated that more than 250,000 households will transition to variable-rate home loans over the next 18 months; their mortgage repayments are set to rise sharply, even if the Reserve Bank does not increase the cash rate again.

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