No country in the world is currently raising rates like this but you have to love the BS that the Australian banks are putting out there about how to justify their rate increases
- http://www.theage.com.au//breaking-news-business/mortgage-rate-rise-inevitable-says-broker-20160415-4djaq.html
Shop around folks and be prepared to move your mortgage to smaller competitors. Its only that the banks don't think you'll move that makes them feel comfortable to pad their bottom line with fat profits.
If your rates go up either move your mortgage or buy bank shares :)
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