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Roy Morgan sees 18-year highs in mortgage stress.
New research from Roy Morgan shows 32.5% of mortgage holders ‘At Risk’ of ‘mortgage stress’ in July 2026, up 2.2% points from June 2026 and after three interest rate increases from the Reserve Bank (RBA) during the first few months of this year.
The 32.5% of mortgage holders ‘At Risk’ of mortgage stress is equivalent to 1,786,000 people – up 180,000 on a month earlier – the highest level of mortgage stress for 18 years. The highest level of mortgage stress ever recorded by Roy Morgan is 35.6% reached four months earlier in mid-2008 when official interest rates hit a 30 year high of 7.25% (March – September 2008).
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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