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The next few months will see Australian borrowers fall off the ‘fixed-rate cliff’. But how steep is the fall? Annie Kane explores the size of the issue
For the past year, there has been a term that has been evoking terror in the hearts of borrowers and brokers alike: the fixed-rate cliff. Looming large in the background for the past year, the sheer steepness of the cliff is now a reality, with the next few months seeing the largest proportion of borrowers ‘falling off’ the cliff and — seemingly — into the abyss.
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