Mortgages jump $538 a month, forcing Christmas cuts
Mortgage payments up $538 to $737 monthly compared to January 2026.
Australians with average home loans now pay $538 more per month than they did in January. Households with $1 million mortgages face steeper jumps of $737 monthly.
Interest rates are at an 18-year high, pushing household budgets under strain. As Christmas approaches, shoppers are cutting back on gifts and scaling down hosting plans.
Some are turning to buy-now-pay-later services or new credit cards to cope. Experts warn this only postpones the problem into next year.
Create a budget, write down planned gifts, and stick to it.
- $538
- Monthly payment jump (average home loan)
- $737
- Monthly payment jump ($1 million
- 18-year high
- Interest rates at
- 13 percent
- Using credit to fund Christmas
Why it mattersMortgage pain is forcing families to skip luxuries they counted on, starting this Christmas.
AustraliaAustralian mortgage holders paying the most in 18 years will have less to spend across the economy this Christmas.
