A New Zealand homeowner has warned of what could come if interest rates hit 5.5 per cent in Australia after her mortgage repayments doubled in less than a year.
Ms Hallwright was visibly taken aback by the revelation after the pair calculated her new monthly mortgage repayments.
New Zealand officially entered recession last week after two quarters of negative growth. Photo by Mark Tantrum/Getty Images.Reserve Bank Governor Philip Lowe said the rises must continue to tackle persistent inflation. The viral clip has already racked up about 140,000 viewers and over 350 comments, but many followers were not sympathetic with Ms Harris’ ballooning repayments.
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