Most common ways Aussies are combating rate hikes interestrates
Mortgage holders have been dealing with rate rises in varying ways.
The average homeowner making additional payments is forking out an extra $375 on average every month, according to the Finder polling.But many are also struggling to simply meet their standard repayments, with data from the Reserve Bank showing the value of extra repayments as a share of total repayments is shrinking.
About 41 per cent of Aussie mortgage holders – equivalent to 1.35 million households – admitted they struggled to pay their home loan in June. PropTrack data showed home buyers’ borrowing capacity has dropped nearly 30 per cent over the past year.
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