Agreed! Only those fortunate enough to not have a mortgage. (Exception : Renters**) e.g. A borrower, who currently has a $500k debt to repay for a further 25 years from now, will be paying ~$700 a month more than 6 months ago, if their interest rate was then 2.75%, and now 5.25%. The website https://moneysmart.gov.au/home-loans/mortgage-calculator quickly enables anyone to DTOR (Do their own research) on this subject.
**And why are Renters an exception? : Because when their lease runs out their landlord will - if he / she's borrowing on his investment in a rented property - most likely raise the rent significantly then, or may have already given notice for soon-to-be lease-term enders.
