As Australia’s levels of household debt hit historic highs, experts are warning of a perfect financial storm on the horizon for struggling home owners with a surge in repayments set to hit interest-only home loans over the coming 12 months.
Key points:
- Mortgage stress is surging as household finances become increasingly stretched
- The situation will become worse as interest-only loans convert to principle plus interest
- The mining states of WA and Queensland have been particularly hard hit
Homeowners, particularly in the mining states of WA and Que…
Read the full article at: http://www.abc.net.au/news/2018-09-19/mortgage-stress-surges-as-dream-of-home-ownership-fades/10249498