the difference is that in the 50's to 90's most mortgagees were on fixed rate. so interest rate rises were less effective.
now with most of Aus on increasing interest we all, well around 80% of people, suffer seriously from smaller increases.
I paid off my mortgage quickly in the 80's/90s..... 12 years. these days mortgages are structured so that even paying large slabs off the capital doesn't get the amount owed down much at all. they make up any reduction of the loan value by applying interest in an obscure manner.
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