Mortgage stress kept at bay by savings buffers - for some
Mortgage stress is creeping upwards as repayments soar but savings and offset loan buffers mean property panic selling is still some way off yet.
Mortgage stress may not be generating excessive panic sales but homelessness is on the rise. (Image source: Shutterstock.com)
While each Reserve Bank of Australia (RBA) board meeting keeps the country’s six million mortgagees on the edge of their seats dreading new interest rate rises, experts suggest monthly repayment increases haven’t caused as much pain as predicted.
Undeniably, some suburbs are faring better than others.
Adam Boyton, Head of Australian Economics, ANZ, describes household incomes as resilient in the face of the interest rate hiking cycle.
“The lev…
