We were discussing interest rates a week back dfs1, and I stated that it was very unlikely mortgage rates here in Oz would reach 6%. Well looking at CBA's fixed rates, the 5 year fixed in now 6.69%, with the fixed rates a leading indicator as to where variable rates are heading, though current variable in still sub 3%. I believe the variable might get to 4 to 4.5% and settle there. If not, and they move to 6%, buyers that had the capacity to borrow $600k 6 months back, would see their capacity drop to ~$420 to $450k now, for which house prices will need to adjust accordingly.
Good News & Bad News, page-12256
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