No need to panic but reducing youre debt load now and locking in fixed interest terms is also adviseable - the best tactic if interest rates shoot up is to put some $$$$ into favourable term deposits - i did read about the guy in 1990 that put a term deposit of 100,000 at the time into a 15 year 22% annual return term deposit - fixed for the life of the 15 years - imagine what he would be sitting on now
Year 1 - 122,000 Year 2 - 145,000
By year 15 well it could very well be about $1m all up.
