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28 July 2023 – Pepper will today start notifying certain residential mortgage customers of increases in their variable rates.
Change affects fewer than half of the residential variable rate customers managed by Pepper. Average rate of 5.9% on residential variable rate mortgages as of 31 May 2023 will increase to 6.3%.
Rising interest rates are making the cost of servicing a mortgage more expensive Whether this happens now or in the future depends on your agreement with your bank Tracker and variable rate mortgages...