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AAP
AAP
Politics
Poppy Johnston and Alex Mitchell

Rate spike caught home owners off guard

Nicola Powell Domain

Australian homeowners did not see the spate of rate hikes coming and more than half believed the figure would not climb so high.

The Reserve Bank upped the official interest rate to 2.6 per cent this month.

It was the sixth straight month rates have risen after being as low as 0.1 per cent in May.

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