Interest rates that could rise again this week and surging petrol prices will squeeze first home buyers already struggling to meet home loan repayments, especially those who used the federal government’s 5 per cent deposit scheme.
Distress is growing among recent home buyers – in February, 0.78 per cent of new home loan holders were 30 days in arrears, double the 0.39 per cent among those who had bought a property earlier, data from the credit bureau Equifax show.
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