<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New research shows more than a million mortgage holders were struggling with repayments before the Reserve Bank of Australia </span><a href="https://www.9news.com.au/mortgages" rel="" target="" title="lifted the cash rate yesterday"><span>lifted the cash rate yesterday</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>One in three homeowners – equivalent to 1,155,000 people – said they struggled to pay their mortgage in January, according to a survey by comparison site Finder released today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It comes after the the official cash rate was yesterday increased by 25 basis points to 3.85 per cent, the first hike in two years.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/interest-rates-major-banks-announce-rate-changes-following-rba-hike/ef7913a0-37ce-49a0-a063-ce159c48d6b2" target="_blank"><strong><span>Big four banks all pass on RBA rate hike</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australia's big four banks </span><a href="https://www.9news.com.au/national/interest-rates-major-banks-announce-rate-changes-following-rba-hike/ef7913a0-37ce-49a0-a063-ce159c48d6b2" rel="" target="" title="have all moved to raise variable interest home loan rates"><span>have all moved to raise variable interest home loan rates</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>To gain any relief from financial stress, the average borrower would need their interest rate to drop to 4.6 per cent, the Finder research found.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It also revealed 12 per cent of borrowers say they have missed at least one mortgage repayment in the past six months.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/finance/interest-rates-more-than-one-in-three-mortgage-holders-struggling-with-repayments/a130f045-2ded-4ff2-898b-3eeba1f92a65" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The rates hike also added to the gloomy outlook of Australians seeking to buy their first home, with 36 per cent believing they'll never take a first step on the property ladder.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Yesterday's rate hike will add about $100 to an average mortgage holder's minimum monthly repayments, although many borrowers have a buffer built up thanks to last year's three cuts.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/world/jill-biden-first-husband-charged-with-killing-wife/5e57852c-dfd2-4558-aaca-794f6abba899" rel="" target="" title="Former US first lady Jill Biden's ex husband charged with killing wife"><strong><span>Former US first lady Jill Biden's ex husband charged with killing wife</span></strong></a><strong></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Finder home loans expert Richard Whitten says the small rise in interest rates could push thousands of borrowers further into financial stress.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Many households are already cutting back on spending just to keep up with their home loans – it's a silent strain on families," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"And the cost of living has continued to rise. So rising loan repayments only add to the strain."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Now is the time to explore your mortgage options before stress turns into a crisis."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><span>The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul></ul></div></div>