dalek said: um, because rates were artificially low at 3%?
I agree, what is your point? Mine is that thousands of FHBs were sucked into large mortgages at these artificially low rates and are now paying 1.5%+ more than 12 months ago, not only .75% more as per the example that UT used.
dalek said: "households" PAY MORTGAGES NOT INDIVIDUALS household income is closer to $90k ave.
dalek, according to Wikipedia (ABS source) the median HOUSEHOLD income in Australia was $66k in 2007. I find it hard to believe it has climbed 35% over the GFC, please, share your source...
