- IT LOOKS like the worries faced by first home buyers don’t end after they scrimp and save to get their deposit together.
A new survey by Mortgage Choice found paying back their loan was a major source of worry with almost a third saying their biggest concern about owning a home was not being able to afford their repayments. This is despite record low interest rates.
In August, the Reserve Bank of Australia cut the official interest rate to 1.50 per cent — the lowest it has ever been.
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First home buyers are fearful about mortgage repayments, despite interest rates being at record lows.