Australians are being hit with a double whammy of rising interest rates and falling property prices, with new data revealing even those who pay their mortgage bills on time could see their equity shrink by 2023.
As households brace for the Reserve Bank to raise interest rates on Tuesday for the second time in as many months, consumer comparison site RateCity has found those who bought in late 2021 face the sharpest squeeze as monthly bills soar.
