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The latest interest rate rise may be the last

Those who loaded up with debt to get a foothold into the Sydney and Melbourne property markets will have to tighten the belt a notch further following last week’s 0.25 percentage point rise in interest rates. But relief may be on the way.

Standard variable mortgage rates are priced off the cash rate so its rise to 6.25 per cent last week takes it to about 8 per cent – the highest level since 2000.

Most economists and property industry experts polled by Money expect the Reserve Bank to keep the cash rate on hold at 6.25 per cent during the first half of next year before cutting rates in the second half….more

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