US Edition1.2 Million Borrowers Still at Risk of Mortgage Stress_ as RBA Holds Rate
- In a survey by Finder, 37 percent of homeowners are spending over 30 percent of their income on mortgage payments, a decrease from 47 percent in February, showing some financial relief for borrowers.
- Approximately 1.2 million borrowers are still at risk of mortgage stress, down from 1.55 million earlier this year, according to Finder's analysis.
- Finder's analysis shows that two-thirds of borrowers now spend less than 30 percent of their income on mortgage payments, compared to 53 percent in February, reflecting a significant shift in homeowner finances.
- Thirteen percent of households have missed at least one mortgage repayment in the past six months.
18 Articles
18 Articles
Sydney Morning Herald
Is the RBA misleading us, or are they confused themselves?
This week saw mortgagees devastated and economists shocked as, despite what was predicted, interest rates were held. How did everyone get it so wrong? Speaking with host Jacqueline Maley and chief political correspondent Paul Sakkal in a new Inside Politics podcast episode, our senior economics correspondent Shane Wright answers the question.
Here's when Westpac says the RBA will now cut interest rates
Last week, the Reserve Bank of Australia (RBA) shocked the market (and homeowners) by electing not to cut interest rates. The central bank revealed that it wanted to wait and see if inflation truly was under control before making a further cut to the cash rate. It explained: With the cash rate 50 basis points lower than five months ago and wider economic conditions evolving broadly as expected, the Board judged that it could wait for a little m…
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