I've just been doing some research on the Aust economy and...

I've just been doing some research on the Aust economy and housing market and to me it doesn't look too great. Aust's level of household debt is one of the highest in the world, this due to such low interest rates so are rates going to become negative or will they get raised? Personally I don't see negative interest as a good thing at all and if they raise interest rates can payments be afforded?
Now in saying this I am no expert and am far from one. I am just a guy thats gotten to excited over a movie and done a bit of research.

Are there such things as CDO'S in Australia?