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Thirteen rate rises later, this borrower is not paying anything more

Jacob Schnackenberg counts himself lucky. He is one of hundreds of thousands of Australians who secured an ultra-low mortgage rate during the pandemic.

Euan Black

Jacob Schnackenberg counts himself lucky.

While Australian households have suffered the largest fall in living standards of any advanced economy over the past year, the most aggressive interest rate rises in a generation have so far had no impact on the 33-year-old’s finances.

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Euan Black is the health and wellness reporter at The Australian Financial Review. He was the work and careers reporter. Email Euan at euan.black@afr.com

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    Original URL: https://www.afr.com/wealth/personal-finance/thirteen-rate-rises-later-this-borrower-is-not-paying-anything-more-20231108-p5eifj