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Rate rises hurt home buyers starting out, says broker

Monday 20th of September 2004

William Cairns, an owner of Greenlane-based Cairns Lockie mortgage bankers, lashed out at the Reserve Bank for increasing the official cash rate, saying those suffering the most were people on lower incomes searching for their first place.

"The Governor of the Reserve Bank, in his move to slow the economy, is actually hurting a group that wants to purchase an owner-occupied proper...

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