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The Guardian - AU

National

Luca Ittimani

Afternoon Update: one in 20 mortgage holders spending more than they earn; Reddit shares soar; and a crocodile in a service station

Reddit Mike Pence United Nations Donald Trump European Union Reserve Bank

A home under construction — The Reserve Bank’s latest financial stability report says most borrowers are keeping up with rising debt repayments despite recent rate hikes. Photograph: Russell Freeman/AAP

Good afternoon. About one in 20 mortgage holders are spending more than they earn because of higher interest rates and cost-of-living increases.

That share should halve by the end of 2025, the Reserve Bank said in its latest financial stability review, which also found most borrowers are keeping up with rising debt repayments.

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