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Some Copper Coast Households Expected To Suffer Through Mortgage Stress

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More households on the Copper Coast will be spending more than 30 percent of their pre-tax income on their home loan repayments.

According to the Otivo Mortgage Stress Report, the continuing rise of interest rates will particularly affect suburbs such as Jericho, Jerusalem, Kadina, Matta Flat, New Town, and Wallaroo Mines.

It comes as new data shows more than 1.8 million Australian households are now under mortgage stress, following the Reserve Bank lifting the cash rate by another half-a-percent to 1.85 percent for August.

Photo by Joshua Mayo on Unsplash