The Commonwealth economic organization says fears about borrowers falling off the fixed rate property loan cliff have largely been averted as households find work arounds in the face of higher finance charge rates.
The bulk of CBA’s remaining fixed rate loans rolled on to variable rates in September last year. The Commonwealth economic organization says it has 132,000 customers on tailored payment plans to help ease the pain.
It says others are taking advantage of strong housing sector conditions to sell their homes and bail out of debt before falling off the cliff.
top executive Matt Comyn spoke to The company’ Alicia Barry to unpack the economic organization’s full year earnings, and why he can’t rule out a rate cut in November.
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