18/10/2026
🏡 “We paid 17% interest in 1989!”
Yes… but how big was the mortgage compared to your pay? 👀
It’s the line that comes up whenever today’s buyers talk about struggling to afford a home.
And yes, 17% interest was tough. But the interest rate only tells part of the story.
According to Savvy’s analysis, Australians now carry more than two and a half times as much household debt relative to their income as they did in 1989. Adjust for that bigger debt burden, and today’s rates pack a similar punch. 💸
Lower rates don’t automatically mean an easier mortgage.
👇 Share this with someone who’s ever said, “You think YOU have it tough? We paid 17%!” It might give your next conversation a different starting point. 😉
Read the comparison here:
https://savvy.com.au/blog/17-percent-mortgage-rates-are-back-2026/
Today's mortgage rates are well below 1989's, but Savvy analysis shows rising household debt has brought the burden back to similar levels.