Mortgage stress rose in June with 1m Australian households ‘extremely at risk’, report says

RoyMorgan report says stage-three tax cuts should ease burden unless jobs market falters or Reserve Bank raises interest rates again

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Tax cuts starting this month should start to reduce the number of Australian households facing mortgage stress provided the jobs market holds up and the Reserve Bank doesn't hit them with higher interest rates, according to a RoyMorgan report.

The research firm found more than 1.6 million mortgage holders, or 30.3% of the total, were facing mortgage stress in June, up 88,000 from the previous month.