Mortgage stress on the rise: how to cope as a property investor
With more than 1.5 million mortgage holders deemed 'at risk' of failing to meet their mortgage repayments, having financial coping mechanisms to implement can make a massive difference for borrowers.
Mortgage stress is affecting a large number of Australian homeowners, with more than 1.5 million borrowers now classified as ‘at risk’. This occurs when mortgage repayments exceed 30 per cent of gross household income, placing pressure on household budgets and reducing financial flexibility.
Although many homeowners continue to meet their repayments, rising interest rates and cost-of-living pressures are forcing them to cut back on essential expe…