Borrowers rush to lock in low interest rates amid expectations of RBA rise

Rising house prices and a resurgent economy could nudge the Reserve Bank to raise rates for first time in 11 years

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Borrowers are rushing to lock in low interest rates amid gathering expectations Australia's central bank will declare an end to its record low cash rate earlier than its current prediction of 2024.

Economists say the Reserve Bank of Australia has little choice but to revise its rate rise timing given mounting evidence the economy is recovering quickly from the lengthy Covid-triggered lockdowns in NSW, Victoria and the ACT.

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