Rate hike to add stress on homeowners

Many homeowners will come under mortgage stress following the Reserve Bank of Australia’s decision to increase interest rates.

The official cash rate sits at 1.35 per cent – its highest level since May 2019.

Digital Finance Analytics Martin North estimates approximately 1.7 million Australian households were under mortgage stress before the latest interest rate rises.
Many homeowners will come under mortgage stress following the Reserve Bank of Australia’s decision to increase interest rates.

The official cash rate sits at 1.35 per cent – its highest level since May 2019.

Digital Finance Analytics Martin North estimates approximately 1.7 million Australian households were under mortgage stress before the latest interest rate rises.

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