PolicyEconomyInterest ratesPrint articleThis family’s mortgage repayments will nearly double to $110k a yearGus McCubbingReporterApr 4, 2023 – 3.29pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginSydney homeowner Steven De Celis has cancelled regular date nights with his wife, sold his Lexus and started turning off power points every night ahead of D-Day in June when his mortgage repayments will nearly double to $110,000.Mr De Celis, 44, is among the 880,000 Australians who are about to fall off a so-called mortgage cliff as they come off loans fixed at record low rates during the pandemic and on to variable rates that are much higher after 10 successive rises by the Reserve Bank of Australia.Loading...Gus McCubbing is a journalist at the Australian Financial Review in Melbourne. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreInterest ratesMortgage brokersBillsPetrol pricesShopping Centres Australasia PropertyHousehold debtSpendingPaymentsCost of livingConsumer spendingRBASydney house pricesNSW residential propertyFirst-home buyersHome loansProperty pricesHousing affordabilityPhilip LoweSydneyLatest In EconomyFetching latest articlesMost Viewed In PolicyThe Australian Financial Review MagazineBishop stares down critics: ‘I turn down many more roles than I take on’Myriam RobinThis restaurant has New York buzz. You’ll never guess where it isThe watch brands courting women with dazzling designsBOSS Financial ReviewThis public servant founded a $4b company. He never wanted to be an entrepreneurSally PattenHow to deal with a difficult managerThe CEO who doesn’t look at her phone until she gets to the officeLife & LeisureMarathons are meditations for this Melbourne banking executiveLife & LeisureThis Chinese-made electric SUV is giving Tesla a run for its moneyGolden Le Creuset and a chic Chanel cuff to wow this Mother’s DayRich ListAtlassian’s AI plans fail to stop $15b value plungeTess BennettBillionaire Harry Stamoulis sizes up Collins Street towerBillionaire Raphael Geminder faces backlash on Pact delisting plan
