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The mortgage belt is bracing itself for the possibility of another rate rise. But a growing number of people have twigged that fixed-rate loans are up to a half a percentage point lower than variable loans and taken advantage of it.

The official cash rate has been climbing steadily this year, rising by 25 basis points in May, and a further 25 basis points in August, taking the cash rate to 6 per cent. But there may be more of the same next month.

Locking in to a fixed-rate home loan, or at least splitting it between fixed and variable, is often a good way to peg payments to manageable levels….more

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