Just two 25-basis-point interest rate rises could be enough to cause thousands of people to default on their "risky" mortgages, experts warn.
A new survey of interest rate experts by finder.com.au found that the overwhelming majority believed it would only take two rate rises – from 1.75 percent to 2 percent – to begin seeing mass defaulting from mortgage holders.
Obviously the property market in Australia is on a knife edge and could continue happily on but is also in grave danger of busting the bubble if it goes the other way.
