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‘The most amount of caution I’ve seen’: How home owners are managing rate hikes

The Sydney Morning Herald·Caroline Zielinski, Elizabeth Redman, Alice Uribe·28 days ago
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Potential home buyers and existing borrowers have become more cautious over the last two months, amid rising interest rates, spikes in petrol prices and the cost of living. The Reserve Bank on Tuesday lifted the cash rate for the third consecutive time this year to 4.35 per cent, adding $76 a month to the cost of repayments on a $500,000 mortgage. Mortgage broker Chris Foster-Ramsay of Foster Ramsay Finance said most of his buyers have become “super cautious” since about mid-March due to interest rate rises and rising fuel prices. “There’s probably the most amount of caution that I’ve seen in most of my career,” he said.…

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