February 29, 2024

How many Australians are now likely to have trouble with their mortgages? The sharp rise in mortgage rates over the past few months will force families to make complex changes to how they spend their money. What is mortgage stress? There is no official definition of mortgage stress, but it is when a family has trouble making home loan payments. People who spend more than 30% of their income on mortgage payments are often used as a measure. However, it doesn’t do an excellent job of expressing this idea. Situations are different for everyone. This is usually easy for households