Is it already too late?? 🫣 A crucial message to ALL homeowners!
IS IT TOO LATE?
Today's message is crucial for everyone who owns property, whether it's your home or an investment. The mortgage cliff that is looming over us is not just a news headline - the wheels are already in motion.
Over 800,000 loans will be transitioning from fixed to variable rates, many as low as 1.89%, from June to August this year. This means that in most cases, the interest rate on your mortgage could increase to a staggering 6.5%, which could have a devastating impact on your monthly payments and ability to maintain your current lifestyle.
This is not a small problem that can be brushed under the rug - we are talking about half a trillion dollars in loans that will be affected by this change.
The impact on the real estate market will be substantial, and those who wait to sell until the market is saturated will be at a significant disadvantage.
If you are planning to move in 2023, I urge you to take action now and consider selling your property before the mortgage cliff hits. The current market conditions are as favourable as we are likely to see for a while, and you can still sell your property in relative isolation potentially avoiding the stress and uncertainty that comes with waiting.
As a real estate agent with years of experience, I am uniquely positioned to help you navigate this complex and rapidly changing market. I can provide you with valuable insights and guidance to help you make the best decisions for your financial future.
Jo Mooney: 0407 344 011