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Don't fix rates

August 1, 2009

Financial experts are warning home owners not to panic over their mortgage rates after Westpac's rise.

The bank has increased its home loan fixed rate by 0.45 percent, and the other three main banks are yet to follow.

But experts say borrowers shouldn't be rushing to fix their rates.

The reserve bank meets on Tuesday, but is expected to keep its rate on hold.


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