Normal
As interest rates rise this year, I suspect that those who are able will start pulling money out of equities and managed funds to service their mortgages. I further suspect that the first funds to be pulled will be out of those micro investing platforms such as Raiz. All that saved lockdown money that people were going to spend on holidays to Bali will probably end up servicing mortgages.The real pain will be felt by those who overextended and bought houses that they really couldn't afford. Those on lower incomes will feel the pinch most.
As interest rates rise this year, I suspect that those who are able will start pulling money out of equities and managed funds to service their mortgages. I further suspect that the first funds to be pulled will be out of those micro investing platforms such as Raiz. All that saved lockdown money that people were going to spend on holidays to Bali will probably end up servicing mortgages.
The real pain will be felt by those who overextended and bought houses that they really couldn't afford. Those on lower incomes will feel the pinch most.
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