Mortgage Stress, Australia5 May 2023
An estimated 1.2 million residential mortgages were ‘at risk’ of mortgage stress as of January 2023. This is almost 25% of all residential mortgages.
At risk mortgages are the highest they have been since the GFC in 2008.
Since the research was published, the RBA has lifted interest rates further from 3.1% to 3.6%, so that number is set to rise.
Will the RBA continue to lift the rates in an increasingly fragile real estate market?
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