Inevitability of Higher Mortgage Rates - 2004-02-13
Highlighting the potential destabilizing effect on the economy of mortgage lending growth of over 20 percent a year, the Reserve Bank of Australia recently hiked its benchmark interest rate by a quarter of a percentage point.
This was followed by a widely expected move by the Bank of England to raise its benchmark rate by a quarter of a point from a 48-year low of 3.5 percent to 3.75 percent.
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