Mortgages Stress Easing, But Don't Overspend

Households are finally catching a break.

The share of borrowers at risk of mortgage stress has fallen to its lowest level since February 2023, according to Roy Morgan, thanks to lower interest rates and steady employment.

But even as pressure eases, it’s not the time to splurge – especially with Christmas approaching.

The Reserve Bank of Australia says Australians made a record 305.4 million personal credit card transactions in August, up 3.9% on the year before.

Two reasons to go easy on credit this Christmas

1. Avoid a debt hangover. Interest adds up fast, and repayments can eat into your savings well into the new year.
2. Protect your borrowing power. Lenders assess your total credit limits and balances – big holiday spending can hurt your chances of loan approval or refinancing.

Planning to buy or refinance soon?

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