cliff looms

Westpac will lower the stress test for homeowners looking to refinance in a bid to help borrowers avoid “mortgage prison”.Nearly 900,000 Australians who secured record low interest rates on a fixed term mortgage during the Covid-19 pandemic…

A so-called fixed-rate mortgage cliff is about to hit nearly 900,000 Australians who took advantage of cheap home loans during the Covid pandemic.The Reserve Bank (RBA) provided banks access to three-year fixed rate credit as part of their…