![]() The highest inflation in 32 years has every major bank forecasting a rate rise next Tuesday. Interest rates are already at a nine-year high of 2.6 per cent with borrowers copping the most severe increases since 1994. Graphics provided by the credit agency show the suburbs where the mortgage arrears rate is triple the national average - meaning a lot more borrowers have fallen behind in their payments.īidwill in western Sydney, Burnside in Melbourne, Burpengary in Brisbane, Mawson Lakes in Adelaide and Alexander Heights in Perth are among the troubled suburbs on the list. Moody's Investors Service has mapped out the postcodes where borrowers are 30 days or more behind on their mortgage repayments, with Westpac warning of a bigger 0.5 percentage point interest rate rise next week.
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