First home buyer mortgage stress rising

More first home buyers are experiencing mortgage stress over the last six months according to the Genworth Homebuyer Confidence Index. First home buyer confidence is falling because of the increased proportion of first home buyers who experienced mortgage stress and expect mortgage stress.

In September 2015, 21 per cent of first home buyers said they had experienced stress over their mortgage, up from 9.0 per cent in March 2015.

The higher cost of living is the most common reason for first home buyer mortgage stress.

Source: Mortgage Business

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