First home buyers will be forking out up to 40% of their average disposable income on mortgage repayments if the Reserve Bank proceeds as widely expected with two more rate rises in 2023, according to projections by the Australian National University.
The share of debt repayments for all mortgagors has already risen from a near-40 year low of 17% of average income in 2019 to 25.1% after the RBA began lifting its official gauge 12 times in its past 13 rates meetings.
