Interest rate rises will not be as ‘catastrophic’ as those in the eighties

Properties have been in high demand during the pandemic, with house prices falling, rentals at an all-time high and interest rates on the rise.

Financial planner Patricia Howard says the driving force behind rising interest rates is “that the economy is running too high”.

“As daunting as it is that interest rates are on the rise … we’re not going to see those catastrophic interest rates that we did back in the late eighties,” she told Sky News Australia.

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