Record number of households at risk of mortgage stress [Video]

A record number of Australian homeowners are at risk of falling into mortgage stress, and thousands more could join them if the Reserve Bank raises interest rates again next month.

According to Roy Morgan, 1.609 million households were at risk of mortgage stress in January, a rise from August and September’s figure of 1.56 million.

The research firm has put the increase down to the RBA’s decision to increase interest rates to the current level of 4.35 per cent on Melbourne Cup day.

“The latest Roy Morgan data shows 1,609,000 mortgage holders were ‘at risk’ of mortgage stress in January 2024, up 82,000 from December and up 119,000 since November when the RBA raised interest rates to a 12-year high of 4.35 per cent,” Roy Morgan CEO Michele Levine said.

“The latest figures for January 2024 represent an increase of …