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Soaring interest rates trap Aussies in ‘mortgage prison’

August 12, 2022 - 14:00 -- Admin

Australians that leveraged up to purchase property at the peak of the market risk being trapped in ‘mortgage prison’, according to mortgage experts. They warn that the combination of rising mortgage rates and falling house prices (negative equity) will impede their ability to refinance because they will no longer meet borrower stress tests, potentially trapping

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