Recent home buyers’ awkward confession
A worrying 693,000 households have too much mortgage debt, the Finder research estimated. This could climb if interest rates continue to rise in early 2023 as widely expected by economists.
“Buying a property when interest rates were low made many people feel like they were getting a good deal. Men were more likely to have overcomitted – with 23 per cent admitting they had borrowed too much on their home loan, compared to 19 per cent of women. Ms Megginson said Aussies who borrowed too much needed to take control of the situation as soon as possible.
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