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Originally Posted by MITCHAY
Well if it was not this month, it was certain in June. They also went with 0.25 instead of predicted 0.15.
I'm prepared though because I've been paying way more then minimum payment for ages and have been putting the rates cuts back in as extra repayments and then some on top.
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A very sensible move, and a lot of others have been doing exactly the same thing.
Article in the ABC web site had this interesting titbit;
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While the average borrower has a buffer of around 45 months (at current interest rates), the median (or typical) borrower is around 21 months ahead, up from 10 months at the start of the pandemic.
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When we started out, interest rates were 17.5%. Somehow, we survived. Mind you, without a lot of "necessities" that seem to be required these days.