The damning sign that proves thousands of Aussies are facing a ticking mortgage timebomb
Thousands of Australian mortgage holders are worried they will be unable to make their home loan repayments following consecutive interest rate hike blows.
More than 65,000 people have contacted the National Debt Helpline (NDH) since the start of the year, with mortgage stress remaining the top reason for calling.
Just under 14,000 people called the NDH in April 2026, a 21 per cent increase on the year prior.
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Thousands of Australian mortgage holders are worried they will be unable to make their home loan repayments. 9News
Are you struggling to pay your mortgage? Contact reporter April Glover at april.glover@nine.com.au
The amount of calls jumped from 11,554 to 13,933 between April 2025 and April 2026.
Online chat data on the NDH website also increased by 641 to 2053 conversations in the same period.
The grim figures followed two consecutive rate rises in March and April.
A third rate hike was delivered by the Reserve Bank of Australia (RBA) yesterday, bringing the cash rate target to 4.35 per cent.
Cumulative rate increases for borrowers on a $1 million mortgage since the start of the year has amounted to $600 per month.
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The Small Business Debt Helpline has also been inundated with requests for help, with a 36 per cent increase in calls between April 2025 and April 2026.
Financial Counselling Australia (FCA) said this has been the busiest start to the year "for a long time".
While mortgage repayments is the top financial issue NDH callers are facing, many are also worried about credit card and ATO debt, personal loans, fuel prices and energy bills.
"Financial counsellors say their clients are very distressed and this rate rise coupled with rising living costs will only make things worse," Financial Counselling Australia chief executive Dr Domenique Meyrick said.
"People are having to make some very tough decisions … going without medical needs in order to pay the mortgage/rent."
Cumulative rate increases for borrowers on a $1 million mortgage since the start of the year has amounted to $600 per month. Getty Images/iStockphoto
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Meyrick said the NDH has noticed an increase of employed Australians reaching out in financial distress.
Around 28 per cent of callers are in full-time work.
And it is only going to get worse as global tensions continue to drive up the cost of living, Meyrick warned.
"War in the Middle East is having an impact on fuel prices and likely to impact food and grocery prices too… this will make it even harder for those already doing it tough," she added.
"There is support available, and you're not alone."
Independent financial advice is available from the National Debt Helpline on 1800 007 007.
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