One in 20 Australian mortgage holders are spending more than they earn
by Peter Hannam Economics correspondent from World news | The Guardian on (#6KHG5)
Reserve Bank says households are generally weathering the record run of interest rate rises but 5% of owner-occupiers are in a dire financial position
About one in 20 mortgage holders are spending more than they earn because of higher interest rates and cost-of-living increases but that share should halve by the end of 2025, the Reserve Bank said in its latest financial stability review.
The semi-annual report, released on Friday, was generally upbeat about the financial health of households and businesses, finding nearly all borrowers continue to service their debts on schedule" even though conditions are likely to remain challenging for many this year.
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