The insider trick for home buyers trying to plan for higher interest rates
- Nov 23, 2022
- 1 min read
Home buyers are wondering: how high will interest rates go? Economist forecasts differ, but mortgage brokers are advising clients on a way to plan ahead.
Look at the fixed rates banks now offer for a guide to how mortgage rates will likely track during that fixed-term period, say brokers.
Once potential buyers consider the rising cost of mortgage repayments, some choose to reduce their expectations and borrow less rather than be saddled with a large debt.
“Everyone asks, that’s for sure – everyone that’s taking on debt is keenly interested in what their repayments will be,” said 40Forty Finance director Will Unkles, who specialises in first home buyers.
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