'Head in the sand': Third of borrowers don't know key mortgage detail

By Kate Burke
Updated December 19 2017 - 8:33am, first published 8:30am
AFR FIRST USE ONLY.  new housing estate at PEMULWUY near prospect in western sydney. generic housing , development , residential , rental , mortgage , building , builders , economy , for sale , real estate , land , rates , investment  Photo by ROB HOMER SPECIAL 103506
home loan
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AFR FIRST USE ONLY. new housing estate at PEMULWUY near prospect in western sydney. generic housing , development , residential , rental , mortgage , building , builders , economy , for sale , real estate , land , rates , investment Photo by ROB HOMER SPECIAL 103506 home loan home loans suburb
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SHD INVESTOR Illo by STAFF
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Mortgage mortgages home loan loans lending property money cash saving photo illustration generic SHD INVESTOR Illo by STAFF (NO CAPTION INFORMATION PROVIDED)

While the majority of Australians think they're financially savvy, more than one in three borrowers don't actually know the interest rate on their own mortgage, a survey has found.

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