Borrowers worse off now than when rates were 17%, says KPMG | ABC NEWS
Community Score: 50% | 493 views | 1w
0 community ratings: null thumbs up, null thumbs down
New economic analysis has found that, over the past two years, Australian households have faced tougher conditions than they did when the RBA's cash rate reached 17.5% in 1989. KPMG senior economist Terry Rawnsley says Gen X households faced the toughest interest rate burden during the global financial crisis. But his analysis of Australian Bureau of Statistics data on home loans, personal loans and credit card interest payments over the past 40 years reveals that households overall have recently faced one of the heaviest interest rate burdens on record. Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia #InterestRates #ABCBusiness
Tags: Australia, abc, abc news, news, home loan, home lending, mortgage, mortgage stress australia, mortgage rates, interest rates, interest rates australia, lending, real estate, property, property news australia, housing, housing crisis australia, housing market australia
More from ABC News (Australia)
- The biggest market sell-off since 'Liberation Day' | The Business | ABC NEWS — Score: 50%
- Designer Katie Perry wins trademark case against pop star | ABC NEWS — Score: 50%
- A look around the NT as residents deal with flooding emergency | ABC NEWS — Score: 50%
- Bundaberg homes inundated after Burnett River peaks | ABC News — Score: 50%
- Reindeer races in Finland draw international crowds | The World | ABC NEWS — Score: 50%
- Grave fears for Iranian footballers after Australia asylum saga | The World | ABC News — Score: 50%