That's what we all thought when rates were over 16% Warnie. We never thought it would go sub 13.5%, let alone 10%. Your one eyed belief is typical of most Australians who refute the fact that rates could maybe go beyond 10%. If anyone has borrowed big on the assumption that rates will never get past 10% then the outcome won't be good should the unforeseen were to occur.
Is it impossible for rates to over 10%? The answer is no. And it's for that reason that our economy is in real danger, because much of our big spending is hinged to high house prices.
Any have a good night as I'm signing off. But please answer the following question; Is it impossible for interest rates to go beyond 10%?
