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AAP
AAP
Business
Dominic Giannini

More mortgage pain to become reality

Some 20 per cent of borrowers will come off fixed rates this year, says Minister Katy Gallagher. (Lukas Coch/AAP PHOTOS) (AAP)

Hundreds of thousands of Australians are bracing for a spike in their interest rates when their fixed rate mortgages end this year.

Finance Minister Katy Gallagher says 20 per cent of mortgage holders - some 660,000 households - will come off fixed rates in 2023.

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