What should you be doing NOW to beat the rate rise?
The recent interest rate rise by the Reserve Bank not only put pressure on those with a home loan, but it also further damaged consumer confidence. The 0.25% increase in interest, which brought the interest rate up to 6.5%, adds about $50 a month extra to the average $250,000 home loan. With interest rates at their highest level in 10 years, and the expectation that they will increase further, what can you do to lessen their impact on your finances?
16 Aug, 2007