Survey: Mortgage rate change would place 5pc of borrowers in financial hardship

Jack Needham
By Jack Needham
Updated August 27 2021 - 10:23pm, first published 3:30am
5pc of survey respondents said they would need financial assistance if rates went up. Photo: Shutterstock

One in 20 Australians would face financial hardship if they were hit by an unexpected rise in mortgage rates, according to a new survey, though regional mortgagees may be in a better position than their city counterparts.

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Jack Needham

Jack Needham

Property News Editor

Jack has been writing about real estate since 2015, covering residential and commercial property markets throughout Australia for the likes of Smart Property Investment and Domain. He has also spent time in the United States researching real estate trends, with a focus on housing affordability issues, for the California Association of Realtors.