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The secret pain for mortgage holders

Published

10 months ago

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Many mortgage holders are feeling trapped by rising repayments, but that’s not all they have to worry about

 
Roughly 25 per cent of mortgage holders are under mortgage stress, which is defined as more than 30% of total household income going towards servicing the loan, according to Will Banks of Shillings Capital.

That means that a AU$750,00 loan has gone up by $1,500 per month since the Reserve Bank of Australia began raising interest rates last year.

This could create compounding issues for mortgage holders. If they are not able to continue paying their mortgages, they may be forced to sell their property at a loss, which then in turn would create further debts through early redemption fees – which could be as high as $40,000.

“There is a huge hangover in regards to these mortgage rate increases and the amount of pressure it’s putting on the economy,” Banks said.

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Why the meme-stock frenzy is unlikely to repeat

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3 days ago

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May 14, 2024

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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3 days ago

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May 14, 2024

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

Published

4 days ago

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May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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