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First Home Buyer

Home Loan Debt Increases Mortgage Stress

45% of first home buyers are currently in mortgage stress and racking up debt on their credit cards to make home loan repayments. With rates expected to rise again – this obscurity is only going to worsen.

As tens of thousands of young homebuyers use credit cards or other loans to meet their financial responsibilities, they are making paying off a home loan severely stressful because now they have multiple debts with increasing interest to pay off, and their income has remained the same.