from the Sydney Morning Herald …..

‘While homebuyers may be dreading another possible interest rate rise tomorrow, new research shows that almost half of mortgagees don't know what interest rate they are currently paying.

A report by accounting body CPA Australia also shows that almost one in four homebuyers didn't know what the interest rate was when they took out their loan.

Kath Bowler, CPA's Financial Planning Policy Adviser, says the study found that homebuyers were "disturbingly uninformed".

"Considering that the increasing cost of housing is making the Aussie dream of owning your own home harder to turn into reality for many people, it is almost as if people are turning a blind eye to the cost when choosing a home loan," she said.’

Homebuyers 'Disturbingly Uninformed'