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The Reserve Bank of Australia’s (RBA) three interest rate hikes this year have pushed Australian mortgage rates to near record-high levels globally.
Chart from Justin Fabo at Antipodean Macro
As a result, mortgage stress has risen to its equal highest level since the Global Financial Crisis (GFC), according to Roy Morgan Research.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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