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Cairns Property and the Interest Rate Rise Gt Autocreditmortgage Lt User1935455 Videos Sort:date Auto Credit Mortgage

Gt Autocreditmortgage Lt User1935455 Videos Sort:date Auto Credit Mortgage

However Mr Carr admitted the local market is still quiet.

“The timing is probably a bit early for us. Unfortunately, you can’t have one set of interest rates for Sydney and another for Cairns,” he said.

Real Estate Institute of Queensland Far Northern Zone Chairman, Rick Szelpuk, agreed that the rate rises were not necessarily a bad thing.

He said people will see for themselves how the economy is strengthening in the coming months.

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Cairns Mortgage Broker Steve Meath said mortgage holders who are concerned about the rise should not be afraid to shop around for a better rate.

“Many mortgage holders are on standard variable home loans with the major banks and more than 50 per cent of those consumers are paying an unnecessarily higher interest rate,” he said.

Source: Cairns Post