Where will interest rates go next?

Everton Park homeowners were relieved to hear the news last Tuesday of interest rates staying put at the current cash rate of 4.5 percent.

 

However with this being the fourth month in a row that interest rates have remained steady, most homeowners and potential buyers are wondering when we can expect interest rates to go up again.

 

Most experts seem to agree that interest rates are likely to rise at least once before the end of the year. But rather than stressing about potential interest rate rises homeowners should be using the time now to consider how their budgets would cope with a rate rise.

 

While interest rates are low we should start getting ahead on mortgage repayments or at least making savings so that if interest rates do go up we are well prepared.