Record level of stressed households projected as all but four of 39 economists in survey tip Melbourne Cup Day hike
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Almost half of Australia’s mortgage holders would be in financial stress if the expected Melbourne Cup interest rate rise goes ahead, paying at least 30% of their income to service their loans.
Households diverting at least 30% of their disposable income to service a mortgage – a standard stress gauge – will account for 48.5% of total borrowers, according to the Australian National University’s Australian tax and welfare system model.
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