James HarrisFor years Australians were conditioned to believe property only goes one way. Buy it. Hold it. Watch it go up. But markets evolve. And right now we have a perfect storm forming underneath the surface:
James HarrisAnother 1–2 rate rises could hurt more than people realise. A $700k mortgage could cost $572 more. Get the best financial advice Australia has to offer with 7Wealth team
James HarrisHere’s a number most people don’t like hearing… Over the life of a typical home loan… you’ll likely pay back more in interest than what you borrowed. Yep. On an average loan of $736,000 at 5.5% over 30 years… that’s about $769,000 in interest.
James HarrisThis week’s interest rate rise probably didn’t surprise you. But that doesn’t make it any less frustrating. Especially after many people finally felt a bit of breathing room from rate cuts over the last 18 months.