One in Four Australians Will Not Make Payments if Rates Rise 0.5 Per Cent: Report
A REPORT by finance giant QBE says one in 10 mortgage holders would not be able to make their repayments if interest rates rise by one quarter of a per cent.
This figure rises to one in four Australians, if interest rates were to rise half a per cent.
The report also says 80 per cent of first home buyers said the property market was overvalued, but one in five said they are still likely to make a purchase in the next six months.
The report, by QBE Lenders Mortgage Insurance, says on average 25 per cent of owner occupiers are suffering mortgage stress, with this figure likely to rise in line with future interest rate rises.
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