The Australian --- Page: 25 : 9 August 2007 Original article by Richard Gluyas
LexisNexis Summary
The rise in Australian interest rates will prompt more borrowers to move to fixed rates. The Reserve Bank raised the cash rate by 25 basis points to 6.5 per cent on 8 August 2007. Banks are expected to pass the rise to customers. Harry Senlitonga, of Cannex, said that there was greater demand for fixed-rate products when interest rates were volatile. Only 25 per cent of Australians had fixed-rate residential home loans, because of the stable monetary situation, but more people are expected to now choose fixed rates.
