One in 4 Aussies in mortgage stress Yahoo7 Finance 4 May 2017
Interest rates may be at all-time lows but the number of households in mortgage stress is rising sharply.
One in four (767,000) Australian households are currently experiencing mortgage stress with just over 30,000 in ‘severe’ stress, according to Digital Finance Analytics.
The mortgage stress figure for April marks a jump of almost 100,000 households compared to March..
So despite record low interest rates, a quarter of mortgage holders in Australia are under stress. And this number is rising. And banks are raising rates independent of the RBA. And global interest rates are rising which is adding to funding costs and also adding to the record burden of global debt.
And yet most Australian’s still believe that Australia’s housing bubble will not burst let alone deflate?
