Variable interest rates are the rate type that is typically affected by a cash rate hike. Put simply, if you’re on a variable rate home loan and your lender chooses to raise rates in line with the cash rate, then your interest rate and therefore your monthly mortgage repayments will increase.
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Bernie Lewis Home Loans Pty Ltd ACN 008 284 544 Australian Credit Licence Number 388 533. The information provided is general advice only. It has been prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. 213 Fullarton Road Eastwood SA 5063.