Warning over popular debt ‘roulette’ amid higher interest rates

High interest rates have sent shockwaves through the housing market.

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Aussie homeowners are playing a game of refinance roulette as they weigh up what to do with their current mortgages.

Comparison site Finder has revealed one-in-five Australian mortgage holders has refinanced with their own lender in the past year as cost of living pressures tighten budget belts.

According to the ABS, in April there were 17,221 external refinancers seeking mortgage relief outside their original lenders.

Homeowners are increasingly turning to refinancing deals. Picture: Gaye Gerard

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Additional research by Finder unearthed another harsh reality; one in four homeowners say they’re at breaking point and aren’t prepared for rates to remain high through to…