Experienced investors stood to benefit from the Reserve Bank’s move from 0.1 to 0.35 per cent because weaker buyer demand would reduce competition, PIPA chair Nicola McDougall said. She noted higher income earners were the least exposed to modest rate movements, while official figures suggested the quarter point rise added roughly $1,500 a year to an average $600,000 mortgage.
Reported by
Domain Reporter, All Homes, 18 May 2022
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