On The Day CBA lifted their fixed mortgage rates 1.4% I caught up with Steve Mickenbecker from Canstar to discuss the implications of this, and the broader rate landscape as borrowers are being forced to pay more. While depositors are having a small win, the impact of rate hikes is concerning.
That said, households can take some steps to try to alleviate the pressure, though one popular one, cancelling health insurance is beset with issues.
Steve Mickenbecker is in Canstar’s Group Executive Team, bringing more than 30 years of experience in the Australian financial services industry. As a financial commentator for Canstar, Steve enjoys sharing his expertise across topics such as home loans, superannuation, insurance, mortgages, banking, credit cards, investment, budgeting, money management and more.
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Caveat Emptor! Note: this is NOT financial or property advice!!