If there's a double interest rate rise this week, more borrowers become 'mortgage prisoners'

Like hundreds of thousands of other Australians, Madeline and Jacqueline Darkovska are prisoners to their mortgage.

The 24-year-old twin sisters are among borrowers who purchased at the height of the pandemic housing boom and are finding it impossible to refinance their home loan.

And with another double interest rate hike expected on Tuesday, the sisters — who are already struggling to meet higher mortgage repayments — fear they could lose their home in the coming months.

Read More: https://www.abc.net.au/news/2022-09-05/borrowers-mortgage-prisoners-interest-rate-rise-rba-housing-loan/101395908