PHOTO: New research has revealed the frightening number of Australians struggling to meet mortgage repayments. NEWS.COM.AU
New research has shed light on the staggering number of Aussies struggling with mortgages.
Comparison site Finder has revealed 40 per cent of Australians – the equivalent of 1.32m households – did not make their May mortgage repayment easily.
This is the highest number recorded since Finder began tracking the concerning issue in 2019.
The data revealed that the percentage of people struggling with mortgages is up from 24 per cent – or 792,000 households – from May 2022.
Around 40 per cent of Aussies admit they are struggling to pay mortgages, Finder research reveals.
Finder has released data on the number of Australians struggling to pay their mortgage.
Finder’s head of consumer research Graham Cooke said panic was starting to set in.
“With 11 interest rate rises over the past 12 months, and potentially another one or two on the horizon – millions of mortgagees are at the end of their tether,” he said.
“Many are facing the frightening prospect of defaulting on their loans and potentially losing their homes.
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