Interest rate normalization is causing the cost of debt to go up — and likely stay up
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Mortgage interest rates have spiked in 2022, in some cases more than tripling from the lows of 2021. Five-year fixed and variable rates were in the 1.5 per cent range or less last year and are currently well over five per cent at the Big Six banks. So, what does this mean for young borrowers, rental property investors and older homeowners?
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Borrowers with…