More than a quarter of Australian mortgage holders have seen their home loan repayments rise by more than six percent since the start of the year.
That’s according to research from online financial broker Savvy, which found 25.7 percent of respondents witnessed repayments lift by above six percent, while 18 percent saw repayments tick up between three and 10 percent.
Around six percent were hit with a rise of between 11 and 20 percent, with one percent reporting an increase of more than 21 percent, it found.
Seventy-seven percent of the 1003 respondents had some level of increase to their mortgage repayments, according to the company.
Savvy chief executive Bill Tsouvalas said the results showed economics in action as interest rates increased in a bid to dampen inflation….