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The Guardian - AU
The Guardian - AU
Business
Peter Hannam Economics correspondent

Mortgage stress rose in June with 1m Australian households ‘extremely at risk’, report says

Tax Cuts Michele Levine ANZ RBA Reserve Bank Roy Morgan
New housing estate in Sydney, Australia
About 20% of mortgage holders were deemed ‘extremely at risk’ in the report. Photograph: Brook Mitchell/Getty Images

Tax cuts starting this month should start to reduce the number of Australian households facing mortgage stress provided the jobs market holds up and the Reserve Bank doesn’t hit them with higher interest rates, according to a RoyMorgan report.

The research firm found more than 1.6 million mortgage holders, or 30.3% of the total, were facing mortgage stress in June, up 88,000 from the previous month.

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