Many new home owners could see half their incomes consumed by mortgage repayments in coming months as the Reserve Bank pushes through interest rate hikes to curb inflation.
Figures published by Canstar on Monday revealed someone who bought a home at the national median price of $818,000 in April 2022 could pay $4542 per month if the cash rate hits 4.6 per cent – as is now forecast by National Australia Bank.
