Ann: FY23 Full Year Results Investor Presentation, page-16

Short term loans going from 14% to 18% (28% higher interest cost) may be less significant than highly leveraged mortgages going from 2% to 5% (150% higher interest cost).

I think more significant is that lots of low credit-score customers will be turned away from almost all lenders. So some people forced into homelessness etc instead of a short term loan.

The ASX listed short term lenders I looked at all claim increasing average Equifax scores. I guess ProductReview websites will show more complaints from people being turned away.