Day of reckoning for mortgagees  Print Email  Australian
Broadcasting Corporation  Broadcast: 14/09/2011  Reporter:
Andrew Robertson  Homebuyers who locked in record low interest
rates at the height of the global financial crisis are facing a
big increase in mortgage payments as their fixed rate periods
end.   TICKY FULLERTON, PRESENTER: A day of reckoning could be
imminent for home buyers who locked in record low interest rates
at the height of the global financial crisis.  They're facing a
big increase in mortgage payments as their fixed-rate periods
come to an end.  Variable rate borrowers have already been
feeling the pain in recent months.  Andrew Robertson reports.
ANDREW ROBERTSON, REPORTER: In the months following the collapse
of Lehman Brothers in 2008, interest rates were slashed and the
Federal Government introduced two stimulus packages.  First home
sales soared, with many people stretching themselves to get in
while mortgage rates were abnormally low.  Mark Bouris was the
founder of Wizard Home