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The New Daily
The New Daily
Matthew Elmas

Home owners facing mortgage cliff urged to refinance

Home owners who fixed their rates during COVID are facing a nasty cliff in the coming year. Photo: Getty

Australians who nailed their mortgage rates to the floor during the pandemic are being urged to consider renegotiating their loans before a massive jump in their monthly bills next year.

Hundreds of thousands of home owners fixed their home loan rates during the pandemic, when market rates were hovering about 2 per cent in response to the pandemic-induced recession.

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